Canadian Banc (TSE:BK) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Canadian Banc Corp. (TSE:BK) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$14.77 and traded as high as C$15.30. Canadian Banc shares last traded at C$15.24, with a volume of 311,481 shares changing hands.

Canadian Banc Stock Performance

The stock has a market capitalization of C$823.71 million, a PE ratio of 3.62 and a beta of 1.29. The firm’s fifty day moving average is C$14.80 and its 200-day moving average is C$14.44. The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 69.49.

Canadian Banc Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.169 per share. This represents a c) dividend on an annualized basis and a yield of 13.3%. This is a boost from Canadian Banc’s previous monthly dividend of $0.17. The ex-dividend date was Friday, May 29th. Canadian Banc’s payout ratio is currently 33.61%.

About Canadian Banc

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.