Canadian Banc Corp. Monthly Dividend Declaration
Canadian Banc Corp. (the "Company") declares its monthly distribution of $0.13863 for each Class A share and $0.06667 for each Preferred share. Distributions are payable on a specified date to shareholders on record as at a particular date.
Dividend Calculation Policy
Under the distribution policy announced in a previous year, the monthly dividend payable on the Class A shares is determined by applying a 15% annualized rate on the volume weighted average market price (VWAP) of the Class A shares over the last 3 trading days of the preceding month. As a result, Class A shareholders on record will receive a dividend based on the VWAP of a designated amount payable on the announced date. The yield will remain stable at 15.00% under this distribution policy.
Preferred Shareholder Returns
Preferred shareholders will receive prime plus 1.50%, with a minimum rate of 5.00% and a maximum rate of 8.00%.
Historical Performance
Since inception, Class A shareholders have received a total of $22.52 per share and Preferred shareholders have received a total of $10.64 per share, inclusive of this distribution, for a combined total of $33.15.
Investment Portfolio
The Company invests in a portfolio of six publicly traded Canadian Banks: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, and Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the portfolio, the Company engages in a selective covered call writing program.
Contact Information
Investor Relations: 1-877-478-2372
Local: 416-304-4443
Email: info@quadravest.com
Frequently Asked Questions
What is the monthly dividend for Class A shares?
The monthly dividend for Class A shares is $0.13863.
When will the dividends be paid?
Dividends are payable on the announced date to shareholders on record.
What is the yield for the Class A shares?
The yield will remain stable at 15.00% based on the VWAP.
How much have Class A shareholders received in total?
Class A shareholders have received a total of $22.52 per share since inception.
What banks does the Company invest in?
The Company invests in a portfolio including Bank of Montreal, Canadian Imperial Bank of Commerce, and others.
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