Canadian Banc Corp T.BK

Alternate Symbol(s): CNDCF | T.BK.PR.A

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.

TSX:BK - Post by User

Canadian Banc Corp

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Post by mousermanon Feb 04, 2023 9:23am

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Post# 35266630

BK unit nav to Feb 03 = approx: $21.70

Keep in mind this is just a guess as I added on some value for the offering .
Last trade @ 13.64 means the premium would have fallen under 2$ , as the effect of the selling after the offering keeps the price below the price paid in the offering = normal action.
Commons would have a value of about $11.70 here ,( just a guess) and the premium would then be 16.6 % or so, and that is lowest premium in quite some time.

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