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Canadian Banc Corp Class A ( (TSE:BK) ) has shared an update.
Canadian Banc Corp. has launched an overnight offering of its Preferred Shares (BK.PR.A) at $10.32 per share, slightly below the previous TSX closing price of $10.41, with National Bank Financial Inc. leading the deal. The transaction, expected to close around January 16, 2026 subject to TSX approval, will fund additional investments in the company’s core portfolio of six major Canadian banks, and comes against a backdrop of a long dividend-paying history on the Preferred Shares—245 consecutive distributions totaling $11.53 per share in tax-advantaged eligible Canadian dividends—and a DBRS rating of Pfd-3 (low). The Preferred Shares aim to deliver cumulative, floating-rate monthly dividends tied to the Canadian prime rate with defined minimum and maximum annual rates, and seek to return the original $10 issue price on or about the current December 1, 2028 termination date, reinforcing the product’s income-focused profile for yield-oriented investors.
More about Canadian Banc Corp Class A
Canadian Banc Corp. is a Canadian-listed investment company that provides structured investment exposure to a portfolio of six major publicly traded Canadian banks, including Bank of Montreal, CIBC, Royal Bank of Canada, Scotiabank, National Bank of Canada and TD Bank. It issues Preferred Shares and Class A Shares designed to offer investors targeted income and capital appreciation profiles tied to the performance of this concentrated Canadian bank portfolio.
YTD Price Performance: -0.54%
Average Trading Volume: 199,212
Find detailed analytics on BK stock on TipRanks’ Stock Analysis page.