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 > BK unit nav in realtime @ approxx: $19.65

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Post by mousermanon Aug 06, 2024 12:38pm

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Post# 36166125

BK unit nav in realtime @ approxx: $19.65

So the spreadsheet is showing a 90 cent loss since Jul 31 and prudently BK had a bigger than normal cash position.
Last quoted sale for BK commons was at $10.74 , while the value is approx: $9.65 so premium had jumped up to about $1.09, or about 11 %. Not sure i would bite at this price, as I believe banks may have more downside. Just as safe to sit on the sidelines for me, until mid month update at least.

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