Canadian Banc Corp. (TSE:BK - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$12.00 and traded as high as C$12.81. Canadian Banc shares last traded at C$12.77, with a volume of 119,286 shares.
Canadian Banc Price Performance
The company's fifty day moving average is C$12.06 and its two-hundred day moving average is C$11.52. The firm has a market cap of C$426.83 million, a price-to-earnings ratio of 5.99 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.
Canadian Banc Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, August 8th will be given a dividend of $0.1507 per share. This represents a c) annualized dividend and a yield of 14.6%. The ex-dividend date is Thursday, July 31st. This is a positive change from Canadian Banc's previous monthly dividend of $0.15. Canadian Banc's dividend payout ratio is presently 80.61%.
Canadian Banc Company Profile
(
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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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