Canadian Banc Corp.
TSX : BK

Canadian Banc Corp.

December 12, 2016 09:00 ET

Canadian Banc Corp.: Special Dividend of $1.19 Declared for Class A Shareholders

TORONTO, ONTARIO--(Marketwired - Dec. 12, 2016) - The Board of Directors of Canadian Banc Corp. (the "Company") are pleased to announce the declaration of a special capital gains cash dividend of $0.50 per Class A share and a special capital gains stock dividend of 0.05 of a Class A share (currently valued at $0.69) for each Class A share outstanding. The special dividends on the Class A share are payable January 9, 2017 to shareholders on record as of January 5, 2017. Including the special dividends declared today, the Class A share dividends total $11.87 per share since inception.

The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the portfolio, the Company engages in a selective covered call writing program.

Distribution Details:
Class A Share (BK) $0.50 cash
Class A Share (BK) 0.05 stock
Ex-Dividend Date: January 3, 2017
Record Date: January 5, 2017
Payable Date: January 9, 2017

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the Company's publically filed documents which are available at www.sedar.com.

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