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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.10 | 11.11 | 11.11 | 0 | 12:30:11 |
Under the distribution policy announced in September 2013, the monthly dividend payable on the Class A shares is determined by applying a 10% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 3 trading days of the preceding month. As a result, Class A shareholders of record on January 31, 2018 will receive a dividend of $0.11542 per share based on the VWAP of $13.85 payable on February 9, 2018. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.
Preferred shareholders continue to receive prime plus 0.75% with a minimum rate of 5.00%.
Since inception Class A shareholders have received a total of $13.29 per share and Preferred shareholders have received a total of $6.69 per share inclusive of this distribution, for a combined total of $19.98.
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 engages in a selective covered call writing program.
Distribution Details
Class A Share (BK) | $0.11542 | |
Preferred Share (BK.PR.A) | $0.04167 | |
Ex-Dividend Date: | January 30, 2018 | |
Record Date: | January 31, 2018 | |
Payable Date: | February 9, 2018 | |
Investor Relations: 1-877-478-2372Local: 416-304-4443www.canadianbanc.cominfo@quadravest.com
1 Year Canadian Banc Chart |
1 Month Canadian Banc Chart |
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