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 > New Press Release - Canadian Banc Corp. Announces TSX Accept

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Comment by deisman03on May 25, 2023 2:50pm

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Post# 35464337

RE:New Press Release - Canadian Banc Corp. Announces TSX Accept

I believe the NCIB is a notice that the company is issuing a notice that they may be purchasing their own shares to take them out of circulation and avoid paying distributions on them, while at the same time enhancing the ''perceived'' value of their stock.

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