Canadian Banc (TSE:BK) Reaches New 52-Week High - Here's What Happened

Key Points

• Shares of Canadian Banc Corp. (TSE:BK) reached a new 52-week high of C$14.29 on Tuesday, closing at C$14.10 with a trading volume of 166,725 shares.
• The company declared a dividend of $0.164 to be paid on October 10, with a dividend payout ratio of 49.43%.
• Canadian Banc's market capitalization is approximately C$591.59 million, with a price-to-earnings ratio of 4.50.

Shares of Canadian Banc Corp. (TSE:BK - ) reached a new 52-week high on Tuesday . The company traded as high as C$14.29 and last traded at C$14.10, with a volume of 166725 shares trading hands. The stock had previously closed at C$14.28.

Canadian Banc Stock Performance

The stock has a 50 day moving average price of C$13.19 and a two-hundred day moving average price of C$12.02. 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 company has a market cap of C$591.59 million, a price-to-earnings ratio of 4.50 and a beta of 0.89.

Canadian Banc Dividend Announcement

The business also recently declared a sep 25 dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.164 dividend. Canadian Banc's dividend payout ratio (DPR) is currently 49.43%.

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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