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 to Oct 27 = approx: $17.85 before dist.

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Post by mouserman on Oct 27, 2023 4:45pm

BK unit nav to Oct 27 = approx: $17.85 before dist.

So the spreadsheet showing a loss of 66 cents now since the midmonth update. Conservative management kept the cash position very high and so the downside was mitigated somewhat.
Commons with a value of about $7.65 after distributions. Monday is ex dividend date so the commons distribution will be taken off and BK will start the day 14 cents lower than the close today.
Premium on commons shares (after distributions) is about $1.88 or about 24.5 %. This seems to be what the market is giving for having some safety above the threshhold.

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Comment by Kylemcc10 on Oct 27, 2023 5:09pm

Class A and PR has paid out a total of $2.30 YTD and NAV was around $20 to start the year. So sitting at $17.65 with the banking index down 10% ytd is pretty remarkable no?

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