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 Nov 08, 2023 9:24am

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Post# 35723296

BK unit NAV to Nov 7 = approx: $19.04

So a nice move up in UNIT NAV for BK of about 53 cents since OCT 31 , even with that huge cash position. Common shares of BK now have a value of $9.04, and with the last trade @ $9.95 the premium is now very low (historically) @ these levels. Works out to 91 cents or just over 10%.
Fear in the markets is big still, i believe when even the safest of these splits cant see a bigger premium.

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Understanding tax loss season and the “Santa Claus rally”