{"id":24969,"date":"2014-04-13T20:14:21","date_gmt":"2014-04-14T01:14:21","guid":{"rendered":"http:\/\/prefblog.com\/?p=24969"},"modified":"2014-04-13T20:14:21","modified_gmt":"2014-04-14T01:14:21","slug":"bk-pr-a-2013-annual-report","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24969","title":{"rendered":"BK.PR.A 2013 Annual Report"},"content":{"rendered":"<p>Canadian Banc Corp. has released its <a href=\"http:\/\/www.canadianbanc.com\/pdf\/BK_AR_2013.pdf\">Annual Report to November 30, 2013<\/a>.<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td colspan=\"4\">BK \/ BK.PR.A Performance<\/td>\n<\/tr>\n<tr>\n<td>Instrument<\/td>\n<td>One<br \/>Year<\/td>\n<td>Three<br \/>Years<\/td>\n<td>Five<br \/>Years<\/td>\n<\/tr>\n<tr>\n<td>Whole Unit<\/td>\n<td>+18.69%<\/td>\n<td>+9.18%<\/td>\n<td>+14.91%<\/td>\n<\/tr>\n<tr>\n<td>BK<\/td>\n<td>+32.42%<\/td>\n<td>+13.51%<\/td>\n<td>+26.83%<\/td>\n<\/tr>\n<tr>\n<td>BK.PR.A<\/td>\n<td>+5.12%<\/td>\n<td>+5.12%<\/td>\n<td>+5.12%<\/td>\n<\/tr>\n<tr>\n<td>S&#038;P\/TSX Financial Index<\/td>\n<td>+25.17%<\/td>\n<td>+12.64%<\/td>\n<td>+15.34%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Figures of interest are:<\/p>\n<p>MER: 1.43% of the whole unit value, excluding one time initial offering expenses.<\/p>\n<p>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.<\/p>\n<p>Underlying Portfolio Yield: Investment income of $4.905-million received divided by average net assets of $132-million is 3.7%.<\/p>\n<p>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%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian Banc Corp. has released its Annual Report to November 30, 2013. BK \/ BK.PR.A Performance Instrument OneYear ThreeYears FiveYears 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&#038;P\/TSX Financial &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-24969","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24969"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24969\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}