Canadian Banc Corp. has released its Annual Report to November 30, 2013.
| BK / BK.PR.A Performance |
| Instrument |
One
Year |
Three
Years |
Five
Years |
| Whole Unit |
+18.69% |
+9.18% |
+14.91% |
| BK |
+32.42% |
+13.51% |
+26.83% |
| BK.PR.A |
+5.12% |
+5.12% |
+5.12% |
| S&P/TSX Financial Index |
+25.17% |
+12.64% |
+15.34% |
Figures of interest are:
MER: 1.43% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield; unfortunately the number of units changesd, which makes it more approximate. The Total Assets of the fund at year end was $134.0-million, compared to $129.5-million a year prior, so call it an average of $132.25-million. Total Preferred Share Distribution in 2013 was $3.152-million, at $0.50/share implies an average of 6.304-million units, at an average NAV of ((22.33 + 19.93) / 2 = 20.83, so call it $131.3-million. Close enough! Call the Average Net Assets $132-million.
Underlying Portfolio Yield: Investment income of $4.905-million received divided by average net assets of $132-million is 3.7%.
Income Coverage: Net investment income of $4.905-million less expenses before issuance fees of $1.868-million is $3.038-million, to cover preferred dividends of 3.152-million is about 96%.
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BK.PR.A 2013 Annual Report
Canadian Banc Corp. has released its Annual Report to November 30, 2013.
Year
Years
Years
Figures of interest are:
MER: 1.43% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield; unfortunately the number of units changesd, which makes it more approximate. The Total Assets of the fund at year end was $134.0-million, compared to $129.5-million a year prior, so call it an average of $132.25-million. Total Preferred Share Distribution in 2013 was $3.152-million, at $0.50/share implies an average of 6.304-million units, at an average NAV of ((22.33 + 19.93) / 2 = 20.83, so call it $131.3-million. Close enough! Call the Average Net Assets $132-million.
Underlying Portfolio Yield: Investment income of $4.905-million received divided by average net assets of $132-million is 3.7%.
Income Coverage: Net investment income of $4.905-million less expenses before issuance fees of $1.868-million is $3.038-million, to cover preferred dividends of 3.152-million is about 96%.
This entry was posted on Sunday, April 13th, 2014 at 8:14 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.