Dividend 15 Split Corp T.DFN

RE:Yes way

[AnEducator]

BK at the height of the COVID panic was an exceptional circumstance, and I was not too surprised when they did not pay the dividend. The markets were plunging, and the manager knew full well a dividend declaration would not likely make a meaningful difference. A payment at that time would have also reduced the NAV with no lasting positive outcomes for the fund.

Right now, everybody knows DFN's trading price would likely be impaired for months. This means the fund would be forced to employ their ATM program at a much lower price.

Obviously, there are no guarantees in life, but I can only look at their past history and conclude that the chances of them using another date is close to zero.

EdPaquette wrote: March 13, 2020 BK nav was $16.45.  TSX SYMBOLS: BK BK.PR.A

Distribution Details

Preferred Share (BK.PR.A)

Ex-Dividend Date:

Record Date:

Payable Date:

Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.canadianbanc.com [e-mail]

March 31, 2020

April 9, 2020

Since the latter part of February 2020, financial markets have been extremely volatile in response to the

developing COVID-19 pandemic and equity markets in particular have experienced significant declines.

The investment portfolio of the Company has been subject to these market fluctuations and the net assets

of the Company have been materially negatively impacted. The net asset value per unit of the Company

as at March 20, 2020 was $14.12. No regular monthly distributions will be paid on the Class A Shares in

any month as long as the net asset value per unit is equal to or less than $15.00. The Company’s

investment portfolio may continue to experience significant volatility as the situation evolves.

The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal,

Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova

Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in

weight but may vary at any time. To generate additional returns above the dividend income earned on the

portfolio, The Company engages in a selective covered call writing program.

.04167

March 30, 2020

CANADIAN BANC CORP.

Monthly Dividend Declaration for Preferred Share

Toronto, Ontario - March 23, 2020 / Globe NewsWire: Canadian Banc Corp. (The "Company") declares its

monthly distribution of .04167 for each Preferred share. Distributions are payable April 9, 2020 to

shareholders on record as at March 31, 2020.

Preferred shareholders will receive prime plus 1.50% with a minimum rate of 5.00%.

Since inception Class A shareholders have received a total of $15.68 per share and Preferred shareholders

have received a total of $7.83 per share inclusive of this distribution, for a combined total of $23.51.

PRESS RELEASE