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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 > Distribution Cut ?????
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Comment by navgodon Mar 16, 2023 5:06am
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Post# 35341767

RE:RE:RE:RE:Distribution Cut ?????

RE:RE:RE:RE:Distribution Cut ?????I was waiting for them to cut the distribution rate back to 10% back in Oct. the last time the unit NAV was sub 20. to no avail. Sould happen if we stay here or lower for awhile, 8% on the prefs and 15% on the capital shares takes a toll.
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