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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 > BK next dist. will be 16.575 cents for month of April
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Post by mousermanon Apr 01, 2023 9:12am
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Post# 35373458

BK next dist. will be 16.575 cents for month of April

BK next dist. will be 16.575 cents for month of April SO based on the last 3 trading days of MArch , the average  trading price of the commons was $13.26. SO the distribution will drop a bit from the current one being paid which was 17.2 cents down to 16.575
Still stay at around 15% payout , which is hard to beat in the current realm of things. Premium is high, and could see some major pullback in another bankrun, or failure in the world markets.
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