Canadian Banc Recovery Corp: Regular Monthly Dividend Declaration for Class A and Preferred Share
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/18/11 -- Canadian Banc Recovery Corp (formerly Prime Rate Plus Corp) ("The Company") declares its regular monthly distribution of $0.06250 (5.00% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (3.00% as at August 15, 2011) plus 2% annually. The Company also declares its regular monthly distribution of $0.04167 (5.00% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. An annual Class A and Preferred share payment of 5.00% is the minimum payment as per the prospectus. Distributions are payable September 9, 2011 to shareholders on record as of August 31, 2011.
Since inception Class A shareholders have received a total of $5.56 per share and Preferred shareholders have received a total of $3.48 per share inclusive of this distribution, for a combined total of $9.04 per share.
The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto- Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the portfolio, The Company will engage in a selective covered call writing program.
Contacts:
Canadian Banc Recovery Corp
416-304-4443
Investor Relations
Toll free at 1-877-4-Quadra
(1-877-478-2372)
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Datum: 18.08.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 1031774
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TORONTO, ONTARIO
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Kategorie:
Personal Finance
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