Canadian Banc Corp. (TSE:BK) to Issue Monthly Dividend of $0.15

Canadian Banc Corp. (TSE:BK - Get Free Report) declared a monthly dividend on Monday, June 30th, TickerTech Dividends reports. Investors of record on Thursday, July 10th will be paid a dividend of 0.1467 per share on Thursday, July 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.56%. The ex-dividend date of this dividend is Monday, June 30th. This is a 7.1% increase from Canadian Banc's previous monthly dividend of $0.14.

Canadian Banc Price Performance

Shares of Canadian Banc stock traded down C$0.08 on Tuesday, hitting C$12.09. 112,863 shares of the company traded hands, compared to its average volume of 120,080. The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31. Canadian Banc has a 12-month low of C$9.39 and a 12-month high of C$12.18. The firm's 50-day simple moving average is C$11.47 and its 200 day simple moving average is C$11.40. The company has a market cap of C$415.49 million, a P/E ratio of 5.84 and a beta of 1.22.

About Canadian Banc

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.