Bullboard - Stock Discussion Forum 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... see more

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TSX:BK - Post Discussion

Canadian Banc Corp > BK unit nav reported by Qudrvst to AUG 31 @ $19.22

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Post by mouserman on Sep 06, 2023 12:10am

BK unit nav reported by Qudrvst to AUG 31 @ $19.22

So that was after distributions and since then BK will have gained about 5or 6 cents. Will know better once the update gives cash postion and weightings.
Premium today would be around $3.20 or so , or about 34.5%
Now for sure the highest premium on any split fund common.

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Comment by Donwaan on Sep 06, 2023 12:52pm

Is BK hanging on to it's highest premium status primarily due to it's flexible distribution policy? Or could having the largest NAV cushion of all the spilts be a factor too?

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Comment by mouserman on Sep 07, 2023 12:06pm

Yes those have an effect on keeping BK up at a healthy premium, but if shortsellers can get shares ... it probably would dive worse than it has. Apparently very hard to find shares to borrow in BK.

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