Canadian Banc (TSE:BK) Hits New 1-Year High – What’s Next?

Canadian Banc Corp. (TSE:BK)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$14.32 and last traded at C$14.24, with a volume of 190351 shares changing hands. The stock had previously closed at C$14.23.

Canadian Banc Trading Up 0.1%

The firm has a market capitalization of C$597.47 million, a PE ratio of 4.54 and a beta of 1.08. The firm has a 50 day simple moving average of C$13.89 and a 200 day simple moving average of C$13.00. The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31.

Canadian Banc Announces Dividend

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

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.