Canadian Banc (TSE:BK) Sets New 1-Year High – Here’s Why

Canadian Banc Corp. (TSE:BK)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$14.83 and last traded at C$14.82, with a volume of 57274 shares. The stock had previously closed at C$14.72.

Canadian Banc Stock Up 1.2%

The company has a debt-to-equity ratio of 98.31, a quick ratio of 2.23 and a current ratio of 1.98. The company has a market capitalization of C$625.16 million, a PE ratio of 5.23 and a beta of 1.08. The firm’s 50-day simple moving average is C$14.11 and its 200 day simple moving average is C$13.23.

Canadian Banc Dividend Announcement

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

About Canadian Banc

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.