We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Canadian Banc Corp | TSX:BK | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 0.09% | 11.10 | 11.10 | 11.11 | 11.15 | 11.05 | 11.09 | 39,268 | 20:56:01 |
The Preferred Shares will be offered at a price of $10.00 per Preferred Share to yield 7.95% and the Class A Shares will be offered at a price of $13.75 per Class A Share with a target yield of 14.47%.
The closing price on the TSX of each of the Preferred Shares and the Class A Shares on January 23, 2023 was $10.12 and $14.01, respectively.
Since inception of the Company, the aggregate dividends declared on the Preferred Shares have been $9.37 per share and the aggregate dividends declared on the Class A Shares have been $19.73 per share, for a combined total of $29.10 per unit. All distributions to date have been made in tax advantaged eligible Canadian dividends or capital gains dividends.
The net proceeds of the offering will be used by the Company to invest in a portfolio of six publicly traded Canadian Banks as follows:
Bank of Montreal | Canadian Imperial Bank of Commerce | Royal Bank of Canada |
The Bank of Nova Scotia | National Bank of Canada | The Toronto-Dominion Bank |
The Company’s investment objectives are to:
Preferred Shares:
Class A Shares:
The sales period of this overnight offering will end at 9:00 a.m. EST on January 25, 2023. The offering is expected to close on or about January 31, 2023 and is subject to certain closing conditions including approval by the TSX.
A prospectus supplement to the Company’s short form base shelf prospectus dated June 22, 2021, as amended May 30, 2022, containing important detailed information about the Preferred Shares and the Class A Shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in each of the provinces of Canada.
Investor Relations: 1-877-478-2372 Local: 416-304-4443 www.canadianbanc.com info@quadravest.com
1 Year Canadian Banc Chart |
1 Month Canadian Banc Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions