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

<< Previous

Bullboard Posts

Next >>

Post by mousermanon Jul 31, 2024 4:56pm

165 Views

Post# 36157027

BK unit Nav to July 31 = approx; $20.72 before dist.

After distributions the UNIT NAV would be $20.52 , and reflect 20 cents worth of distributions to commons and preferreds.
Common shares of BK would have a true value of $10.72 after dist. and so now is one of the few trading at a premium. It is definitely the safest of those in Quadravest's split fund group.
But hardly near the top in yield.
With the last 3 days of trading in JULY averaging 11.089 the next payout coming in Sept for the month of AUG will be up to 13.862 cents per share, up from the 13.588 to be paid in August, for JULY.

<< Previous

Bullboard Posts

Next >>

Apolo IV Acquisition and Marviken Ontario sign merger agreement