Canadian Banc Corp. (TSE:BK - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as C$12.29 and last traded at C$12.28, with a volume of 98911 shares. The stock had previously closed at C$12.18.
Canadian Banc Stock Up 1.1%
The company has a quick ratio of 2.23, a current ratio of 1.98 and a debt-to-equity ratio of 98.31. The company has a market capitalization of C$428.21 million, a PE ratio of 6.01 and a beta of 1.22. The stock has a 50-day moving average of C$11.84 and a 200 day moving average of C$11.46.
Canadian Banc Increases Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, August 8th will be issued a dividend of $0.1507 per share. This represents a $1.81 dividend on an annualized basis and a yield of 14.51%. The ex-dividend date is Thursday, July 31st. This is an increase from Canadian Banc's previous monthly dividend of $0.15. Canadian Banc's payout ratio 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.
Further Reading
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