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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.06 | 0.56% | 10.80 | 10.77 | 10.81 | 10.81 | 10.72 | 10.81 | 39,365 | 21:01:51 |
Under the distribution policy announced in November 2021, the monthly dividend payable on the Class A shares is determined by applying a 15% 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 May 31, 2022 will receive a dividend of $0.18038 per share based on the VWAP of $14.43 payable on June 10, 2022. The yield will remain stable at 15.00% (based on the VWAP) under this distribution policy.
Preferred shareholders will receive prime plus 1.50% with a minimum rate of 5.00%.
Since inception Class A shareholders have received a total of $18.38 per share and Preferred shareholders have received a total of $8.91 per share inclusive of this distribution, for a combined total of $27.29.
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) | $0.18038 |
Preferred Share (BK.PR.A) | $0.04167 |
Record Date: | May 31, 2022 |
Payable Date: | June 10, 2022 |
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 |
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