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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
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Post by mousermanon Aug 25, 2023 2:06pm
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Post# 35605743

REALTIME Unit NAV for BK would be about $19.28

REALTIME Unit NAV for BK would be about $19.28
So after distributions to commons and preferreds the commons would be valued @ ABOUT $9.05 LAST TRADE @ $12.85 means the premium AFTER distributions are dished out is $3.80 or about 42%.... never a buy for this old guy...
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