OVERVIEW

CORE HOLDINGS

Canadian Banc Corp. is a high quality portfolio consisting of six Canadian Banks. The portfolio shares offer an attractive dividend yield, continued earnings growth and have a strong history of capital appreciation. The company offers two classes of securities a Preferred share (BK.PR.A) and a Class A share (BK).

 

 

To view a Split Share Fund overview please click here.

Bank of Montreal

Bank of Nova Scotia

Canadian Imperial Bank of Commerce

National Bank of Canada

Royal Bank of Canada

Toronto-Dominion Bank

 


Shares held within the Portfolio are expected to range between 5-20% in weight but may vary from time to time. Top holdings by weight may include holdings other than the core holdings as up to 20% of the net asset value may be invested in equity securities of Canadian or foreign financial services corporations other than the core holdings (as per the Prospectus).

OBJECTIVES

SHARE HIGHLIGHTS

Preferred Shares:


(i) to provide holders of the Preferred Shares with cumulative preferential floating rate monthly cash dividends at an annual rate equal to Prime Rate plus 1.50%, (min 5%, max 8%) based on $10 redemption value, and;
(ii) to pay the holders of the Preferred Shares the $10 redemption value on or about the termination date of December 1, 2023 (subject to further 5 year extensions thereafter).

Class A Shares:


(i) to provide holders of the Class A Shares with regular monthly cash distributions currently targeted to be at a rate of 10% annualized based on the volume weighted average market price of the Class A shares for last 3 trading days of the preceding month, and;
(ii) to pay the holders of Class A Shares on the termination date
of December 1, 2023 (subject to further 5 year extensions thereafter) at least the original issue price of those shares.

​Preferred Shares:

 

  • Cumulative monthly dividends

  • Quality investment in Canadian Banking sector

  • Strong downside protection and asset coverage

  • Pfd-3 (high) DBRS Rating - August 2019

  • Attractive Yield

  • Non-Callable

 

Class A Shares:

 

  • Monthly cash distributions

  • Quality investment in Canadian Banking sector

  • Capital appreciation potential

  • Attractive alternative to other income vehicles

  • Tax efficient distributions

TOP HOLDINGS

VALUATION

Holdings Sorted by weight as at October 31, 2019:

Toronto-Dominion Bank
Bank of Montreal
Canadian Imperial Bank of Commerce
Bank of Nova Scotia
National Bank of Canada
Royal Bank of Canada

October 31, 2019

NAV Pre-Distribution:

$21.12

Distribution:

$0.13375

NAV Net of Distribution:

$20.99

NAV + Total Distributions Paid to Date:

$43.93

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200 Front Street West

Suite 2510, P.O. Box 51

Toronto, Ontario M5V 3K2

 Investor Relations: 1-877-478-2372 

 Local Investor Relations: 416-304-4443

 Main telephone: 416-304-4440

 Fax: 416-304-4441

 

Questions may be directed to 

info@quadravest.com

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