Canadian Banc Corp T.BK

Alternate Symbol(s): T.BK.P.A | CNDCF

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 > BK unit NAV to AUG 9 = approx: $21.05

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Post by mousermanon Aug 09, 2022 6:36pm

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Post# 34883215

BK unit NAV to AUG 9 = approx: $21.05

So now BK has approx: the same NAV as at July 29. SO commons back to a value of $11.05
With the last trade @ 13.37 the premium is $2.22, or about 20 %..
BK is one of the few safe high paying split fund commons in Quadravest. With over 6 $ in safety coverage , there is no others close. FTN next with about 3 $ in safety coverage. Trading at a lower premium tho, only 13%. Some speculation tho that FTN will do a second offering in 2022, but i do think a higher premium will be much more desirable for that.

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