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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 Oct 23, 2024 6:00pm
84 Views
Post# 36279325

BK unit nav to OCT 23 = approx: $21.67 before dist.

BK unit nav to OCT 23 = approx: $21.67 before dist.Showing a gain of 18 cents since the OCT 154th update.
 After distributions are factored in BK commons would carry a value of $11.46.. and with the last trade @ $11.52 , the commons are trading at a slight premium. Not sure why LBS has a huge discount, with a UNIT NAV above 19$ , and FTN also discounted quite big UNIT NAV above 19$, and common denominator is  CAD holdings  make up the biggest part of the funds. 
I do hold SOME FTN and more FFN, but no LBS or BK... will see if they continue to struggle at a discount or get a big jump come next week as ex divvy approaches. LBS has the smallest payout this month @ 10 cents as they just paid preferreds the quarterly distribution. BK payouts this month are nearly  21 cents with commons and preferreds.
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