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

Canadian Banc Corp. (TSE:BK)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$15.95 and last traded at C$15.86, with a volume of 172792 shares. The stock had previously closed at C$15.13.

Canadian Banc Price Performance

The stock has a fifty day moving average of C$14.15 and a 200 day moving average of C$14.28. The stock has a market cap of C$771.86 million, a price-to-earnings ratio of 3.39 and a beta of 1.13. The company has a debt-to-equity ratio of 69.49, a current ratio of 2.47 and a quick ratio of 2.23.

Canadian Banc Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 8th were paid a dividend of $0.1675 per share. This represents a c) annualized dividend and a yield of 12.8%. 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.