Canadian Banc Corp. (BK) to Issue Monthly Dividend of $0.22 on September 10th

Canadian Banc Corp. (TSE:BK) announced a monthly dividend on Monday, August 31st, TickerTech Dividends reports. Stockholders of record on Thursday, September 10th will be given a dividend of 0.2156 per share on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 15.5%. The ex-dividend date of this dividend is Monday, August 31st. This is a 4.9% increase from Canadian Banc’s previous monthly dividend of $0.21.

Canadian Banc Trading Up 0.5%

Shares of BK stock opened at C$16.71 on Friday. Canadian Banc has a 12-month low of C$9.71 and a 12-month high of C$17.72. The company has a market capitalization of C$900.80 million, a P/E ratio of 2.20 and a beta of 1.28. The firm has a 50-day moving average price of C$16.87 and a 200 day moving average price of C$15.30. The company has a quick ratio of 2.23, a current ratio of 2.60 and a debt-to-equity ratio of 63.79.

Canadian Banc Company Profile

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.