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Canadian Banc To Split Its Class A Shares

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Canadian Banc (BK.TO) after the close Tuesday said it aims to split its Class A shares due to the company's strong performance.

The Class A shareholders of record at the close of business on May 196, will receive 10 additional Class A shares for every 100 Class A shares held. The share split is subject to approval by the Toronto Stock Exchange.

The company said the shares are expected to trade on an ex-split basis at the opening of trade on May 19, while the impact of the split will be reflected in the net asset value per unit on May 29.

Shares of the company closed up $0.03 to $15.13 on the Toronto Stock Exchange.

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