Canadian Banc (TSE:BK) Hits New 1-Year High – Here’s Why

Canadian Banc Corp. (TSE:BK) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$11.56 and last traded at C$11.47, with a volume of 115136 shares traded. The stock had previously closed at C$11.48.

Canadian Banc Price Performance

The company has a debt-to-equity ratio of 98.31, a current ratio of 1.98 and a quick ratio of 2.23. The firm has a market cap of C$347.79 million, a PE ratio of 4.94 and a beta of 1.22. The business’s fifty day moving average is C$11.21 and its 200-day moving average is C$11.02.

Canadian Banc Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 9th were paid a dividend of $0.1359 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.63 annualized dividend and a dividend yield of 14.16%. This is a positive change from Canadian Banc’s previous monthly dividend of $0.14. Canadian Banc’s dividend payout ratio (DPR) is presently 71.67%.

Canadian Banc Company Profile

Canadian Banc Corp. is a close-ended equity mutual fund launched by Quadravest Inc The fund is managed by Quadravest Capital Management Inc It invests in the public equity markets of Canada. The fund invests in stocks of companies engaged in the banking sector. It benchmarks the performance of its portfolio against the S&P TSX Financial Index.