Canadian Banc Corp. Monthly Dividend Declaration for Class A & Preferred Share
20 Novembre 2023 - 10:00PM
Canadian Banc Corp. (The "Company") declares its monthly
distribution of $0.11988 for each Class A share and $0.06667 for
each Preferred share. Distributions are payable December 8, 2023 to
shareholders on record as at November 30, 2023.
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 November 30, 2023 will receive a dividend
of $0.11988 per share based on the VWAP of $9.59 payable on
December 8, 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 $21.32 per share and Preferred shareholders
have received a total of $10.04 per share inclusive of this
distribution, for a combined total of $31.35.
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) |
$0.11988 |
Preferred Share (BK.PR.A) |
$0.06667 |
Record Date: |
November 30, 2023 |
Payable Date: |
December 8, 2023 |
Investor Relations: 1-877-478-2372 |
Local: 416-304-4443 |
www.canadianbanc.com |
info@quadravest.com |
Canadian Banc (TSX:BK)
Graphique Historique de l'Action
De Jan 2025 à Fév 2025
Canadian Banc (TSX:BK)
Graphique Historique de l'Action
De Fév 2024 à Fév 2025