Canadian Banc Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share
March 20 2012 - 9:00AM
Marketwired
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 March 15, 2012) 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 April 10,
2012 to shareholders on record as of March 30, 2012.
Since inception Class A shareholders have received a total of
$5.97 per share and Preferred shareholders have received a total of
$3.77 per share inclusive of this distribution, for a combined
total of $9.74 per share.
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: March 28, 2012
Record Date: March 30, 2012
Payable Date: April 10, 2012
Contacts: Canadian Banc Corp. Investor Relations 416-304-4443,
toll free at 1-877-4-Quadra (1-877-478-2372)
www.primerateplus.com
Canadian Banc (TSX:BK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Canadian Banc (TSX:BK)
Historical Stock Chart
From Jul 2023 to Jul 2024
