Canadian Banc Corp. (TSE:BK - Get Free Report) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$11.05 and traded as high as C$11.70. Canadian Banc shares last traded at C$11.65, with a volume of 43,815 shares trading hands.
Canadian Banc Price Performance
The firm has a market capitalization of C$403.46 million, a P/E ratio of 5.67 and a beta of 1.22. The stock's 50 day simple moving average is C$11.08 and its 200 day simple moving average is C$11.42. 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 Cuts Dividend
The company also recently announced a monthly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.137 per share. This represents a $1.64 dividend on an annualized basis and a yield of 14.00%. The ex-dividend date is Friday, May 30th. Canadian Banc's dividend payout ratio (DPR) 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.
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