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Bullboard - Stock Discussion Forum Canadian Banc Corp T.BK

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

Financial Services Asset Management
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... see more

TSX:BK - Post Discussion

Canadian Banc Corp > i currently own BK. What is the advantage
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Post by Mickey2 on Jan 31, 2022 8:02am

i currently own BK. What is the advantage

If I buy BK.PR.A, what is the advantage/disadvantage over BK? the yield is nowhere near to BK
Thanks
Comment by mouserman on Jan 31, 2022 1:06pm
The only advantage is the safety. And at this point, that isnt really an issue, as BK is nearly 10$ above the threshhold for paying to commons ( BK). BK distributions will increase again this month, while BK.PR.A distributions are locked in. SO you are participating in capital gains with BK and increasing yield.. while the preferreds stay about where they are.
Comment by navgod on Jan 31, 2022 2:23pm
Couple of points: yes you participating in capital gains but also capital losses and the yield  on the distribution are constant, not increasing, at 15%. I am long a reduced amout of BK and find BK.pr.a expensive compared to many other splitshare prefs.
Canadian Banc Corp