Canadian Banc Corp. (TSE:BK) Plans Sep 25 Dividend of $0.16

Key Points

• Canadian Banc Corp. has announced a dividend of $0.16 per share, set to be paid on October 10th for investors of record on September 30th.
• As of Tuesday, the stock reached C$14.75, with a P/E ratio of 4.28 and a market cap of C$562.59 million.
• The company aims to provide floating rate dividends linked to the Prime Rate, with a minimum annual rate of 5.0% for its Preferred Shares and Class A Shares.

Canadian Banc Corp. (TSE:BK - Get Free Report) announced a sep 25 dividend on Tuesday, September 23rd, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.164 per share on Friday, October 10th.

Canadian Banc Stock Performance

Shares of BK traded up C$0.50 during trading hours on Tuesday, reaching C$14.75. 190,965 shares of the company traded hands, compared to its average volume of 121,567. Canadian Banc has a 1-year low of C$9.39 and a 1-year high of C$14.83. The company has a debt-to-equity ratio of 98.31, a quick ratio of 2.23 and a current ratio of 1.98. The stock has a market cap of C$562.59 million, a P/E ratio of 4.28 and a beta of 0.89. The stock's fifty day moving average is C$12.95 and its 200 day moving average is C$11.89.

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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