Canadian Banc Corp: Regular Monthly Dividend Declaration for Class A and Preferred Share

TORONTO, ONTARIO -- (Marketwired) -- 04/18/13 -- Canadian Banc Corp ("The Company") declares its regular monthly distribution of $0.05313 (4.25% annualized based on the original issue price of $15.00 per share) for each Class A share. The rate reflects the distribution policy of Canadian prime rate (3.00% as at April 15, 2013) plus 1.25% annually. The Company also declares its regular monthly distribution of $0.04167 (5.00% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. An annual Class A payment of 4.25% and a Preferred share payment of 5.00% are the minimum payments as per the distribution policy. Distributions are payable May 10, 2013 to shareholders on record as of April 30, 2013.

Since inception Class A shareholders have received a total of $6.66 per share and Preferred shareholders have received a total of $4.31 per share inclusive of this distribution, for a combined total of $10.97 per unit.

The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the portfolio, The Company will engage in a selective covered call writing program.

Distribution Details:                                                       
Class A Share (BK)                 $0.05313                                 
Preferred Share (BK.PR.A)          $0.04167                                 
Ex-Dividend Date:                  April 26, 2013                           
Record Date:                       April 30, 2013                           
Payable Date:                      May 10, 2013