Canadian Banc Corp T.BK

BK unit NAV to Sept. 26= approx: $20.25

[mouserman]

My spreadsheet has BK losing about 80 cents since the midmonth update, so commons now carry a value of about $10.25. With the last trade @ $12.93 the premium is $2.68 and that works out to 26.1 %.
Very safe for distributions but could be further capital losses from here as well. The distribution will be reduced as well if the current share price of th commons persists for the last 3 trading days of the month.

[navgod]

Two points regarding BK: 1) BK is a prime candidate to be the next Quadravest offering and 2) the NAV was $14.44 when the distribution was increased from 10% of market value to 15% of market value. As of today with yesterday's bank selloff and being ex divi the Nav is now below $10. While I do not pretend to know what NAV level would trigger a reversal back down to 10% they must be getting

[Mickey2]

navgod, is it true that if you are short a dividend player, you must pay the dividend every month?  any truth to that?

[navgod]

Of course that is true! What also is true is that NAV is reduced by the same amount. If split share dividends had any basis in cashflow or earnings I might care but they don't so I don't. I am generally long splitshares but only care about dividends only to the extent that other investors/traders do. Splitshare pref shares are totally different - there dividends do matter!  GLTA

[Mickey2]

so you pay 40,000 x 16 cents per month?

[navgod]

yes, $6400 and that is one of the reasons the NAV of this share has dropped from $14.44 to under $10. Listen I was long BK most of 2021 only selling out after investors got excited about the new distribution of 15% and boosted the premium over NAV to an expensive level.