Canadian Banc Corp. Monthly Dividend Declaration
Canadian Banc Corp. (the "Company") has announced its monthly distribution of $0.13863 for each Class A share and $0.06667 for each Preferred share. These distributions will be paid on a specified date to shareholders who are on record as of a particular date.
Dividend Calculation Policy
According to the distribution policy established in a prior year, the monthly dividend for Class A shares is calculated by applying a 15% annualized rate to the volume weighted average market price (VWAP) of the Class A shares over the last three trading days of the previous month. Consequently, Class A shareholders on record will receive a dividend based on the VWAP of a designated amount that will be payable on the announced date. This distribution policy ensures that the yield remains steady at 15.00%.
Preferred Shareholder Returns
Preferred shareholders will earn returns at a rate of prime plus 1.50%, with a guaranteed minimum of 5.00% and a cap of 8.00%.
Historical Performance
Since its inception, Class A shareholders have received a cumulative total of $22.52 per share, while Preferred shareholders have received a total of $10.64 per share, making a combined total of $33.15.
Investment Portfolio
The Company maintains a portfolio that includes 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. The shares in this portfolio are expected to constitute between 5% to 20% of the total weight, but this may fluctuate at any time. To enhance returns beyond the dividend income generated from the portfolio, the Company also engages in a selective covered call writing strategy.
Contact Information
For inquiries, please reach out to Investor Relations at 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 set at $0.13863.
When will the dividends be paid?
Dividends will be paid on the announced date to shareholders who are on record.
What is the yield for the Class A shares?
The yield for Class A shares will consistently remain at 15.00%, based on the VWAP.
How much have Class A shareholders received in total?
Since inception, Class A shareholders have received a total of $22.52 per share.
What banks does the Company invest in?
The Company invests in a portfolio that includes Bank of Montreal, Canadian Imperial Bank of Commerce, and several others.
