Canadian Banc Corp. (BK) To Go Ex-Dividend on July 31st

Canadian Banc Corp. (TSE:BK) announced a monthly dividend on Friday, July 31st, TickerTech Dividends reports. Investors of record on Monday, August 10th will be given a dividend of 0.2055 per share on Monday, August 10th. This represents a c) annualized dividend and a dividend yield of 14.1%. The ex-dividend date of this dividend is Friday, July 31st. This is a 21.6% increase from Canadian Banc’s previous monthly dividend of $0.17.

Canadian Banc Trading Down 0.3%

Canadian Banc stock traded down C$0.06 during trading on Wednesday, reaching C$17.51. 54,144 shares of the company were exchanged, compared to its average volume of 235,620. Canadian Banc has a 52-week low of C$9.25 and a 52-week high of C$17.72. The company has a market capitalization of C$943.93 million, a P/E ratio of 2.30 and a beta of 1.27. The company has a debt-to-equity ratio of 63.79, a current ratio of 2.60 and a quick ratio of 2.23. The stock’s 50 day simple moving average is C$16.08 and its two-hundred day simple moving average is C$14.91.

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.