BK Canadian Banc Corp

On September 17, 2013, Canadian Banc Corp. ("the Company") announced a change in
the distribution policy to the Class A shares that resulted in an immediate
increase of over 42% to the monthly dividend. The Company is pleased to announce
a further 11.52% increase to the monthly distribution from its previous month's
distribution, due to the increased market price of the Company's Class A share.
The dividend for November will be $0.09600 per share.


Under the new distribution policy, the monthly dividend payable on the Class A
shares will be determined by applying a 10% 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 of record
on November 29, 2013 will receive a dividend of $0.09600 per share based on the
VWAP of $11.52 over the last 3 trading days in October, payable on December 10,
2013. Effectively, the actual amount of monthly distributions paid will vary
with the market price, but the current yield will remain stable at 10% (based on
the VWAP) under this new distribution policy.


There will be no changes to the Preferred Share dividend policy or the Class A
dividend threshold policy. Preferred shares will continue to receive prime plus
0.75% with a minimum rate of 5%.


Since inception Class A shareholders have received a total of $7.13 per share
and Preferred shareholders have received a total of $4.60 per share inclusive of
this distribution, for a combined total of $11.73 per unit.


The Company invests in a portfolio of six publicly traded Canadian Banks as
follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of
Canada, Royal Bank of Canada, Bank of Nova Scotia, 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 will engage in a selective covered call
writing program.




Distribution Details:                                                       
Class A Share (BK)                  $0.09600                                
Preferred Share (BK.PR.A)           $0.04167                                
Ex-Dividend Date:                   November 27, 2013                       
Record Date:                        November 29, 2013                       
Payable Date:                       December 10, 2013                       



FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Banc Corp.
Investor Relations
416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
www.primerateplus.com

Canadian Banc (TSX:BK)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024

Canadian Banc (TSX:BK)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024