Canadian Banc (TSE:BK) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Canadian Banc Corp. (TSE:BK) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$12.35 and traded as high as C$12.94. Canadian Banc shares last traded at C$12.91, with a volume of 135,522 shares.

Canadian Banc Stock Up 0.5%

The firm has a market capitalization of C$443.67 million, a PE ratio of 6.23 and a beta of 1.22. The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31. The firm has a 50-day moving average of C$12.35 and a two-hundred day moving average of C$11.60.

Canadian Banc Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 8th were issued a $0.1507 dividend. This is a positive change from Canadian Banc’s previous monthly dividend of $0.15. The ex-dividend date was Thursday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. Canadian Banc’s dividend payout ratio (DPR) is 80.61%.

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.