Canadian Banc (TSE:BK) Shares Cross Above 50-Day Moving Average of $13.35

Canadian Banc Corp. (TSE:BKGet Rating)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$13.35 and traded as high as C$13.43. Canadian Banc shares last traded at C$13.22, with a volume of 43,222 shares changing hands.

Canadian Banc Stock Performance

The company has a market cap of C$164.16 million and a PE ratio of 13.55. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 78.83. The company has a 50-day moving average of C$13.35 and a 200-day moving average of C$13.93.

Canadian Banc Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, September 9th. Investors of record on Friday, September 9th were issued a dividend of $0.1656 per share. This is a positive change from Canadian Banc’s previous monthly dividend of $0.16. This represents a $1.99 dividend on an annualized basis and a yield of 15.36%. The ex-dividend date was Tuesday, August 30th. Canadian Banc’s dividend payout ratio (DPR) is 179.88%.

About Canadian Banc

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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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