Canadian Banc Corp. (TSE:BK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$12.20 and last traded at C$12.19, with a volume of 59045 shares trading hands. The stock had previously closed at C$12.12.
Canadian Banc Trading Up 0.4%
The company has a fifty day moving average of C$11.55 and a 200-day moving average of C$11.41. 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 capitalization of C$418.24 million, a price-to-earnings ratio of 5.87 and a beta of 1.22.
Canadian Banc Increases Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, July 10th will be paid a $0.1467 dividend. The ex-dividend date of this dividend is Monday, June 30th. This is a positive change from Canadian Banc's previous monthly dividend of $0.14. This represents a $1.76 dividend on an annualized basis and a dividend yield of 14.47%. Canadian Banc's payout ratio is currently 80.61%.
About Canadian Banc
(
Get Free Report)
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
Before you consider Canadian Banc, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canadian Banc wasn't on the list.
While Canadian Banc currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
