Canadian Banc Corp. (TSE:BK - Get Free Report)'s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$11.53 and traded as high as C$12.14. Canadian Banc shares last traded at C$12.12, with a volume of 58,721 shares traded.
Canadian Banc Price Performance
The company has a market capitalization of C$418.24 million, a P/E ratio of 5.87 and a beta of 1.22. The stock's fifty day simple moving average is C$11.55 and its 200-day simple moving average is C$11.41. The company has a debt-to-equity ratio of 98.31, a current ratio of 1.98 and a quick ratio of 2.23.
Canadian Banc Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, July 10th will be paid a dividend of $0.1467 per share. This is an increase from Canadian Banc's previous monthly dividend of $0.14. The ex-dividend date is Monday, June 30th. This represents a $1.76 annualized dividend and a yield of 14.47%. Canadian Banc's dividend payout ratio is presently 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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