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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 0.09% | 11.10 | 11.10 | 11.11 | 11.15 | 11.05 | 11.09 | 39,268 | 20:56:01 |
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 October 31, 2023 will receive a dividend of $0.13975 per share based on the VWAP of $11.18 payable on November 10, 2023. 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% and a maximum rate of 8.00%.
Since inception Class A shareholders have received a total of $21.20 per share and Preferred shareholders have received a total of $9.97 per share inclusive of this distribution, for a combined total of $31.16.
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) | $0.13975 |
Preferred Share (BK.PR.A) | $0.06667 |
Record Date: | October 31, 2023 |
Payable Date: | November 10, 2023 |
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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