Shares of Canadian Banc Corp. (TSE:BK - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as C$12.29 and last traded at C$12.26, with a volume of 66601 shares. The stock had previously closed at C$12.19.
Canadian Banc Stock Performance
The company has a market capitalization of C$420.64 million, a price-to-earnings ratio of 5.91 and a beta of 1.22. 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 company's fifty day simple moving average is C$11.62 and its two-hundred day simple moving average is C$11.42.
Canadian Banc Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.1467 per share. This is a positive change from Canadian Banc's previous monthly dividend of $0.14. This represents a $1.76 annualized dividend and a yield of 14.38%. The ex-dividend date is Monday, June 30th. Canadian Banc's dividend payout ratio (DPR) is currently 80.61%.
About Canadian Banc
(
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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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