Canadian Banc Corp Regular Monthly Dividend Declaration for Class A and Preferred Share
November 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 November 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 December 10, 2012 to shareholders on record as of
November 30, 2012.
Since inception Class A shareholders have received a total of
$6.39 per share and Preferred shareholders have received a total of
$4.10 per share inclusive of this distribution, for a combined
total of $10.49 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: November 28, 2012
Record Date: November 30, 2012
Payable Date: December 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 May 2024 to Jun 2024
Canadian Banc (TSX:BK)
Historical Stock Chart
From Jun 2023 to Jun 2024
