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.

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Canadian Banc Corp > Oil and Canadian Banks

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Comment by BLOODTHIRSTYon Jun 27, 2023 11:11am

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Post# 35516299

RE:RE:RE:Oil and Canadian Banks

deisman03 wrote: I realize that the SEC is a US regulator.

I just don't remember the name of the Canadian regulator.

You may be right but I don't agree with your assessment at this time.

They may follow your described procedure, which is already formulated and in place or if the price of the units stays low for to long, they will cut the distribution.

It's a good common sense strategy, followed by several other trusts and companies that issue monthly income distributions.

For some folks it's all about capital gains but for most folks it's about a predictable monthly income.

If this trust drops monthly payments, its price will tank. Again IMHO

Go to the website and read "Objectives" Class A shares.

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