Canadian Banc (TSE:BK) Hits New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Canadian Banc Corp. (TSE:BK – Get Free Report)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$15.73 and last traded at C$15.44, with a volume of 330870 shares traded. The stock had previously closed at C$15.45.

Canadian Banc Stock Up 1.6%

The firm has a market capitalization of C$662.50 million, a P/E ratio of 5.03 and a beta of 1.08. The company has a debt-to-equity ratio of 98.31, a current ratio of 1.98 and a quick ratio of 2.23. The stock has a fifty day moving average of C$14.01 and a 200 day moving average of C$13.15.

Canadian Banc Announces Dividend

The business also recently declared a sep 25 dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $0.164 per share. Canadian Banc’s payout ratio is currently 49.43%.

About Canadian Banc

(Get Free Report)

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.

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