Canadian Banc Corp. (TSE:BK) Plans $0.17 Monthly Dividend

Key Points

• Canadian Banc Corp. declared a monthly dividend of C$0.1675 per share with an ex-dividend date of April 30 and record/payment date of May 8, implying an annualized yield of about 13.5%.
• Shares traded at C$14.93 midday (up C$0.01) with a market cap of C$731.7M, a P/E of 3.21, and a 12‑month range of C$8.83–C$15.03.
• The company’s stated objective is to pay floating-rate monthly dividends: Preferred shares at Prime +0.75% (min 5%, max 7%) and Class A at Prime +2% (min 5%, max 10%), with a return of original issue price on redemption.

Canadian Banc Corp. (TSE:BK - Get Free Report) declared a monthly dividend on Thursday, April 30th, TickerTech Dividends reports. Investors of record on Friday, May 8th will be paid a dividend of 0.1675 per share on Friday, May 8th. This represents a c) dividend on an annualized basis and a yield of 13.5%. The ex-dividend date of this dividend is Thursday, April 30th.

Canadian Banc Trading Up 0.1%

Canadian Banc stock traded up C$0.01 during midday trading on Tuesday, reaching C$14.93. 213,892 shares of the stock traded hands, compared to its average volume of 214,750. The company has a 50-day simple moving average of C$13.98 and a two-hundred day simple moving average of C$14.17. Canadian Banc has a 12-month low of C$8.83 and a 12-month high of C$15.03. The firm has a market cap of C$731.67 million, a PE ratio of 3.21 and a beta of 1.07. The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 69.49.

Canadian Banc Company Profile

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.

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