Canadian Banc (TSE:BK) Hits New 12-Month High – Should You Buy?

Canadian Banc Corp. (TSE:BK)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$15.04 and last traded at C$15.01, with a volume of 403790 shares trading hands. The stock had previously closed at C$14.75.

Canadian Banc Price Performance

The firm has a market capitalization of C$738.05 million, a price-to-earnings ratio of 3.24 and a beta of 1.13. The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 69.49. The business has a 50-day moving average price of C$14.02 and a two-hundred day moving average price of C$14.21.

Canadian Banc Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, May 8th will be given a $0.1675 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a yield of 13.3%. Canadian Banc’s dividend payout ratio (DPR) 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.