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Canadian Banc Corp. Completes Overnight Offering of $62,700,000
Globenewswire· 2025-10-09 12:30
Core Points - Canadian Banc Corp. has successfully completed an overnight offering of Preferred Shares, raising total gross proceeds of $62.7 million [1] - The Preferred Shares will trade on the Toronto Stock Exchange under the symbol BK.PR.A [1] Investment Portfolio - The net proceeds from the offering will be invested in a portfolio primarily consisting of six publicly traded Canadian banks: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, and The Toronto-Dominion Bank [2] Investment Objectives - The investment objectives for the Preferred Shares include providing holders with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the prevailing Canadian prime rate plus 1.50%, with a minimum annual rate of 5.0% and a maximum annual rate of 8.0% based on the original $10 issue price [3] - On or about the termination date, currently set for December 1, 2028, the company aims to pay holders the original $10 issue price of those shares, subject to potential five-year extensions [3]
Canadian Life Companies Split Corp. At-The-Market Equity Program Renewed
Globenewswire· 2025-10-07 13:00
TORONTO, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. (“the Company”) announces it has renewed its at-the-market equity program (“ATM Program”) that allows the Company to issue shares of the Company to the public from time to time at the Company’s discretion, effective until June 1, 2026, unless terminated prior to such date by the Company. This ATM Program replaces the prior program established in May 2024 that has terminated. Any Class A Shares or Preferred Shares sold in the ATM ...
Canadian Banc Corp. Announces Successful Overnight Offering of Preferred Shares
Globenewswire· 2025-10-02 14:06
TORONTO, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it has completed the overnight marketing of Preferred Shares (TSX: BK.PR.A) of the Company. Total gross proceeds of the offering are expected to be approximately $62.7 million. The offering is being led by National Bank Financial Inc. The sales period of the overnight offering has now ended. The offering is expected to close on or about October 9, 2025 and is subject to certain closing conditions including ...
Canadian Banc Corp. Announces Overnight Offering of Preferred Shares
Globenewswire· 2025-10-01 19:17
TORONTO, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) of the Company. The offering will be led by National Bank Financial Inc. The sales period of this overnight offering will end at 9:00 a.m. EST on October 2, 2025. The offering is expected to close on or about October 9, 2025 and is subject to certain closing conditions including approval by the TSX. The Preferred Shares will be offered at a pr ...
Intention to Make a Normal Course Issuer Bid for Subordinate Voting Shares and Preferred Shares
Globenewswire· 2025-09-26 11:45
TORONTO, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that the Toronto Stock Exchange (the “TSX”) has accepted a notice filed by Fairfax of its intention to commence a Normal Course Issuer Bid (“NCIB”) through the facilities of the TSX (or other alternative Canadian trading systems) for its Subordinate Voting Shares and the following series of its Preferred Shares: Cumulative 5-Year Rate Reset Preferred Shares, Series I (TSX: FFH.PR.I) (“Se ...
Capital One: Preferred Shares Offer Attractive Current Yields And Capital Gain Potential
Seeking Alpha· 2025-09-16 19:18
Group 1 - As of H1 2025, Capital One Financial had $5.4 billion in cumulative preferred shares outstanding, which includes a combination of legacy preferred shares issued between 2019 and 2021, as well as new preferred issues [1] - The investment approach of the company focuses on fundamental long-term perspectives, particularly in sectors such as REITs, preferred stocks, and high-yield bonds [1] Group 2 - The article does not provide any specific investment recommendations or advice regarding the suitability of investments for particular investors [2][3] - There is no indication of any stock, option, or similar derivative positions held by the author in the companies mentioned, nor any plans to initiate such positions in the near future [2]
WaFd: Solid 7.2% Yield From Preferred Shares
Seeking Alpha· 2025-09-16 11:48
Group 1 - WaFd is a large regional bank operating in the western United States, having expanded through a merger with Luther Burbank [1] - The bank offers both common shares and preferred shares as part of its investment options [1] Group 2 - The article is focused on income investing strategies, including common shares, preferred shares, and bonds [1] - The author has a background in history, political science, and an MBA with a specialization in Finance and Economics [1]
WaFd Stock: Solid 7.2% Yield From Preferred Shares (NASDAQ:WAFD)
Seeking Alpha· 2025-09-16 11:48
Core Insights - WaFd (NASDAQ: WAFD) is a large regional bank operating in the western United States, experiencing growth due to a merger with Luther Burbank [1] - The bank provides both common and preferred shares, indicating a diversified investment offering [1] Company Overview - WaFd has expanded its market presence through strategic mergers, enhancing its operational capacity and customer base [1] - The bank's focus on income investing through various financial instruments, including common shares, preferred shares, and bonds, reflects its commitment to providing value to investors [1] Investment Focus - The article emphasizes the importance of income investing, suggesting that WaFd's offerings may appeal to investors seeking stable returns [1] - The author has a long position in WaFd's preferred shares, indicating confidence in the bank's financial performance and growth potential [2]
Corporate Credit Spread Complacency: Neutral IGSB, Bearish HYG, Bullish IEF
Seeking Alpha· 2025-09-04 13:54
Group 1 - Pearl Gray is a proprietary investment fund and independent market research firm focusing primarily on Fixed-Income and Preferred Shares [1] - The firm also provides analysis on equity REITs, Investment Funds, and Banks, offering a cross-asset blend for its readers [1] Group 2 - The content published by Pearl Gray is categorized as Independent Analysis and does not constitute financial advice [1][3] - Readers are encouraged to consult a registered financial advisor before making investment decisions [3]
Partners Value Split Corp. Announces 2025 Semi-Annual Results
Globenewswire· 2025-08-15 11:45
Core Viewpoint - Partners Value Split Corp. reported a net asset value per unit of $157.55 as of June 30, 2025, reflecting a strong financial position and growth in income and comprehensive income compared to the previous year [1][2]. Financial Performance - Income available for distribution for the six months ended June 30, 2025, was $48 million, an increase from $42 million in the prior year, primarily due to higher dividend rates from Brookfield Corporation and Brookfield Asset Management Ltd. [2][4] - Net comprehensive income reached $533 million, significantly up from $159.77 million in the prior period, driven by higher unrealized mark-to-market gains on shares of Brookfield Corporation and Brookfield Asset Management [2][4]. - The fair value of Brookfield Corporation shares was $61.85 as of June 30, 2025, up from $57.45 at the end of 2024, while Brookfield Asset Management shares had a fair value of $55.28, compared to $54.19 at the end of 2024 [2][4]. Investment Holdings - As of June 30, 2025, the Company owned 120 million Class A Limited Voting shares of Brookfield Corporation and 30 million Class A Limited Voting shares of Brookfield Asset Management, which generate cash flow through dividend payments [4][5][6]. - The Company's investment in Brookfield Corporation represents approximately an 8% interest, while the investment in Brookfield Asset Management represents about a 2% interest [5][6]. Dividend Information - The Company reported distributions paid on senior preferred shares and debentures amounting to $16.87 million for the six months ended June 30, 2025, compared to $15.83 million in the prior year [4]. - Income available for distribution to junior preferred and capital shares was $31.39 million, up from $26.55 million in the previous year [4]. Asset Management Overview - Brookfield Corporation is recognized as a leading global investment firm focused on long-term wealth creation across three core businesses: asset management, wealth solutions, and operating businesses [5]. - Brookfield Asset Management Ltd. is noted for managing over $1 trillion in assets across various sectors, including real estate, infrastructure, and private equity [6].