Class A Share (BK)
Search documents
Canadian Banc Corp. Monthly Dividend Declaration for Class A & Preferred Share
Globenewswire· 2025-08-20 13:00
Distribution Announcement - Canadian Banc Corp. declares a monthly distribution of $0.15913 for each Class A share and $0.05375 for each Preferred share, payable on September 10, 2025, to shareholders on record as of August 29, 2025 [1][5] Dividend Policy - The monthly dividend for Class A shares is determined by a 15% annualized rate based on the volume weighted average market price (VWAP) over the last 3 trading days of the preceding month, resulting in a dividend of $0.15913 per share based on a VWAP of $12.73 [2] Preferred Shareholder Returns - Preferred shareholders will receive a return of prime plus 1.50%, with a minimum rate of 5.00% and a maximum rate of 8.00%. Since inception, Class A shareholders have received a total of $24.26 per share, while Preferred shareholders have received $11.32 per share, totaling $35.59 combined [3] Investment Portfolio - The Company invests in a portfolio of six publicly traded Canadian banks, including Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, and Toronto-Dominion Bank. The weight of shares held in the portfolio is expected to range between 5-20% but may vary [4] Additional Returns Strategy - To generate additional returns above the dividend income earned on the portfolio, the Company engages in a selective covered call writing program [4]