Canadian Banc Corp. (TSE:BK) Raises Dividend to $0.16 Per Share

Key Points

• Canadian Banc Corp. has announced a monthly dividend increase to $0.16 per share, representing a 5.6% increase from the previous dividend of $0.15.
• The dividend will be payable on September 10th to investors of record as of September 10th, with an ex-dividend date of August 29th.
• Canadian Banc's stock opened at C$13.16, with a market capitalization of C$452.26 million and a PE ratio of 6.35.

Canadian Banc Corp. (TSE:BK - Get Free Report) announced a monthly dividend on Friday, August 29th, TickerTech Dividends reports. Investors of record on Wednesday, September 10th will be paid a dividend of 0.1591 per share on Wednesday, September 10th. This represents a c) annualized dividend and a yield of 14.5%. The ex-dividend date of this dividend is Friday, August 29th. This is a 5.6% increase from Canadian Banc's previous monthly dividend of $0.15.

Canadian Banc Stock Performance

Shares of Canadian Banc stock opened at C$13.16 on Friday. The company has a market capitalization of C$452.26 million, a PE ratio of 6.35 and a beta of 1.22. Canadian Banc has a 12 month low of C$9.39 and a 12 month high of C$13.20. The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31. The stock's fifty day simple moving average is C$12.45 and its 200 day simple moving average is C$11.65.

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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