Canadian Banc Corp. (BK) to Issue Monthly Dividend of $0.21 on August 10th

Canadian Banc Corp. (TSE:BK – Get Free Report) announced a monthly dividend on Friday, July 31st, TickerTech Dividends reports. Stockholders of record on Monday, August 10th will be given a dividend of 0.2055 per share on Monday, August 10th. This represents a c) annualized dividend and a dividend yield of 14.2%. The ex-dividend date of this dividend 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 Canadian Banc stock traded down C$0.16 during mid-day trading on Wednesday, reaching C$17.41. 130,155 shares of the stock were exchanged, compared to its average volume of 235,730. The company has a market cap of C$938.54 million, a price-to-earnings ratio of 2.29 and a beta of 1.27. The company has a current ratio of 2.60, a quick ratio of 2.23 and a debt-to-equity ratio of 63.79. The firm has a 50-day simple moving average of C$16.08 and a 200 day simple moving average of C$14.91. Canadian Banc has a fifty-two week low of C$9.25 and a fifty-two week high of C$17.72.

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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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