Canadian Banc Corp. (TSE:BK) to Issue Monthly Dividend of $0.21

Canadian Banc Corp. (TSE:BK – Get Free Report) declared a monthly dividend on Friday, July 31st, TickerTech Dividends reports. Investors of record on Monday, August 10th will be given a dividend of 0.2055 per share on Monday, August 10th. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date is Friday, July 31st. This is a 21.6% increase from Canadian Banc’s previous monthly dividend of $0.17.

Canadian Banc Price Performance

Shares of TSE BK opened at C$17.57 on Wednesday. Canadian Banc has a 52-week low of C$9.25 and a 52-week high of C$17.72. The firm has a market capitalization of C$947.16 million, a price-to-earnings ratio of 2.31 and a beta of 1.27. The stock has a 50 day moving average price of C$16.08 and a 200 day moving average price of C$14.91. The company has a debt-to-equity ratio of 63.79, a quick ratio of 2.23 and a current ratio of 2.60.

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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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