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CCIXF - The Bank Of Nova Scotia: A Rare Opportunity For A Rock Solid 6.4% Yield
Canadian Imperial Bank Of Commerce - FXDFR PRF PERPETUAL CAD 25 - Ser 45 Cl A
Investment Thesis
In March 2020, in the midst of the market crash, I took a close look at the value and dividend characteristics of Canada's Big 5 banks. At the time, Canada's 5 largest banks: Royal Bank of Canada (RY), The Toronto-Dominion Bank (TD), The Bank of Nova Scotia (BNS), The Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CM) were all trading at deep discounts to their historic valuations. The combination of low share prices and continuity in dividend payments had