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

Canadian Banc Corp. (TSE:BK) shares reached a new 52-week high during trading on Thursday . The company traded as high as C$15.73 and last traded at C$15.44, with a volume of 330870 shares. The stock had previously closed at C$15.45.

Canadian Banc Price Performance

The company has a market cap of C$652.01 million, a price-to-earnings ratio of 4.95 and a beta of 1.08. The company has a fifty day simple moving average of C$13.93 and a two-hundred day simple moving average of C$13.10. The company has a quick ratio of 2.23, a current ratio of 1.98 and a debt-to-equity ratio of 98.31.

Canadian Banc Dividend Announcement

The firm also recently announced a sep 25 dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.164 per share. Canadian Banc’s dividend payout ratio (DPR) is currently 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.