Canadian Banc Corp. (TSE:BK – Get Free Report)’s share price fell 7.2% during mid-day trading on Friday . The company traded as low as C$10.35 and last traded at C$10.50. 132,753 shares were traded during mid-day trading, an increase of 74% from the average session volume of 76,383 shares. The stock had previously closed at C$11.31.
Canadian Banc Stock Performance
The company has a current ratio of 2.09, a quick ratio of 2.23 and a debt-to-equity ratio of 87.38. The stock has a market cap of C$237.58 million, a price-to-earnings ratio of -27.59 and a beta of 1.30. The firm’s 50-day moving average is C$12.93 and its two-hundred day moving average is C$13.12.
Canadian Banc Cuts Dividend
The firm also recently announced a monthly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, September 8th were given a $0.165 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 18.40%. The ex-dividend date of this dividend was Wednesday, August 30th. Canadian Banc’s dividend payout ratio (DPR) is -510.26%.
About Canadian Banc
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.
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