There were 1,821 press releases posted in the last 24 hours and 393,402 in the last 365 days.

Canadian Banc Corp. Monthly Dividend Declaration for Class A & Preferred Share

TORONTO, July 18, 2018 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (The "Company") declares its monthly distribution of $0.10333 for each Class A share and $0.04167 for each Preferred share. Distributions are payable August 10, 2018 to shareholders on record as at July 31, 2018.

Under the distribution policy announced in September 2013, the monthly dividend payable on the Class A shares is determined by applying a 10% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 3 trading days of the preceding month. As a result, Class A shareholders of record on July 31, 2018 will receive a dividend of $0.10333 per share based on the VWAP of $12.40 payable on August 10, 2018. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.

Preferred shareholders continue to receive prime plus 0.75% with a minimum rate of 5.00%.

Since inception Class A shareholders have received a total of $13.95 per share and Preferred shareholders have received a total of $6.94 per share inclusive of this distribution, for a combined total of $20.89.

The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the portfolio, The Company engages in a selective covered call writing program.

  Distribution Details  
     
Class A Share (BK) $0.10333
Preferred Share (BK.PR.A) $0.04167
Ex-Dividend Date: July 30, 2018
Record Date: July 31, 2018
Payable Date: August 10, 2018


Investor Relations: 1-877-478-2372
Local: 416-304-4443
www.canadianbanc.com
info@quadravest.com

Primary Logo