Canadian Banc (TSE:BK) Sets New 12-Month High – Here’s What Happened

Shares of Canadian Banc Corp. (TSE:BK) reached a new 52-week high on Wednesday . The company traded as high as C$14.83 and last traded at C$14.80, with a volume of 110718 shares trading hands. The stock had previously closed at C$14.53.

Canadian Banc Trading Up 0.9%

The company has a debt-to-equity ratio of 69.49, a quick ratio of 2.23 and a current ratio of 2.47. The stock has a market capitalization of C$814.55 million, a PE ratio of 3.58 and a beta of 1.13. The stock has a 50-day moving average price of C$14.32 and a two-hundred day moving average price of C$14.32.

Canadian Banc Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, May 8th were given a $0.1675 dividend. This represents a c) annualized dividend and a dividend yield of 13.3%. The ex-dividend date was Thursday, April 30th. Canadian Banc’s payout ratio is presently 33.61%.

Canadian Banc Company Profile

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.