Canadian Banc (TSE:BK) Reaches New 52-Week High – Here’s Why

Shares of Canadian Banc Corp. (TSE:BK) hit a new 52-week high on Tuesday . The stock traded as high as C$15.44 and last traded at C$15.40, with a volume of 362176 shares. The stock had previously closed at C$15.11.

Canadian Banc Stock Performance

The company has a market capitalization of C$818.32 million, a PE ratio of 3.59 and a beta of 1.13. The company has a 50 day moving average of C$14.46 and a two-hundred day moving average of C$14.36. 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 Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, June 10th will be paid a $0.169 dividend. The ex-dividend date of this dividend is Friday, May 29th. This is a positive change from Canadian Banc’s previous monthly dividend of $0.17. This represents a c) annualized dividend and a yield of 13.4%. Canadian Banc’s payout ratio is currently 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.