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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

Post by mousermanon Nov 28, 2023 5:37pm
277 Views
Post# 35757376

BK UNIT NAV to Nov 28 = approx: $18.60

BK UNIT NAV to Nov 28 = approx: $18.60Despite thye big cash position held by BK , the UNIT NAV still lost about 32 cents since the midmonth update. Value of the commons after dist, to preferreds and commons  would be about $8.40. Big premium given as still a lot of safety cushion from the 15$ threshhold. But distributions are going to be dropping again.. and those who have bought in higher recently wont be getting the return they were hoping for. Last sale @ 9.89 means the premium is about $1.49 after dist. or about 17.7%.
LBS has a higher premium, with a lot less cushion. LBS does have the top 4 in lifecos tho, and they wont get beaten up as bad as the CAD banks.
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