1. Canadian Banc Corp. announces offering of Preferred Shares at $10.45. 2. Offering yields 6.2% and will close around October 9, 2025. 3. 242 consecutive dividends declared total $11.38 per share since inception. 4. Proceeds will be invested primarily in six major Canadian banks. 5. DBRS rating for the preferred shares is Pfd-3 (low).
The ongoing offering at $10.45, slightly below the current price, indicates stable demand for shares, mirroring successful market trends historically seen with dividend-yielding securities. Previous equity offerings in Canadian banks have often led to price appreciation post-offering, especially in favorable market conditions.
The highly relevant offering and attractive dividend yield draw significant interest from both retail and institutional investors, which could stabilize or enhance market optics for TSX:BK.
This offering could lead to immediate price adjustments as investors consider the new yield and use of proceeds for investments. Recent market behavior suggests that quick changes often respond to such corporate developments.
TORONTO, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the "Company') is pleased to announce it will undertake an offering of Preferred Shares (TSX:BK) of the Company. The offering will be led by National Bank Financial Inc.
The sales period of this overnight offering will end at 9:00 a.m. EST on October 2, 2025. The offering is expected to close on or about October 9, 2025 and is subject to certain closing conditions including approval by the TSX.
The Preferred Shares will be offered at a price of $10.45 per Preferred Share to yield 6.2%.
The closing price on the TSX of the Preferred Shares on September 30, 2025 was $10.51.
Since the inception of the Company, 242 consecutive dividends have been declared for the Preferred shares. The aggregate dividends declared on the Preferred Shares total $11.38 per share. All distributions to date have been made in tax advantaged eligible Canadian dividends.
Effective November 13, 2024, the DBRS rating on the Preferred shares is Pfd-3 (low).
The net proceeds of the offering will be used by the Company to invest in a portfolio consisting primarily of six publicly traded Canadian Banks as follows:
| Bank of Montreal The Bank of Nova Scotia | Canadian Imperial Bank of Commerce National Bank of Canada | Royal Bank of Canada The Toronto-Dominion Bank |
The Company's Preferred Share investment objectives are to:
A prospectus supplement to the Company's short form base shelf prospectus dated June 18, 2025, containing important detailed information about the Preferred Shares and the Class A Shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in each of the provinces of Canada.
| Investor Relations: 1-877-478-2372 | Local: 416-304-4443 | www.canadianbanc.com | info@quadravest.com |
