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Canadian Banc Corp. (TSE:BK) Plans Dividend Increase - $0.15 Per Share

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Canadian Banc Corp. (TSE:BK - Get Free Report) announced a monthly dividend on Friday, January 31st,TickerTech Dividends reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.1454 per share on Monday, February 10th. This represents a $1.74 annualized dividend and a dividend yield of 14.81%. The ex-dividend date is Friday, January 31st. This is an increase from Canadian Banc's previous monthly dividend of $0.14.

Canadian Banc Trading Down 2.4 %

TSE:BK traded down C$0.29 during midday trading on Friday, hitting C$11.78. 203,049 shares of the company traded hands, compared to its average volume of 107,214. The firm's fifty day moving average is C$11.83 and its 200-day moving average is C$11.45. Canadian Banc has a 12-month low of C$10.22 and a 12-month high of C$12.13. The firm has a market capitalization of C$355.64 million, a P/E ratio of 5.06 and a beta of 1.22. 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 Company Profile

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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.

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Dividend History for Canadian Banc (TSE:BK)

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