CBC is not in the best financial position. I think what is going on is the better charter banks do not want to go down with the ship so they are buying out CBC's 51% share. This may leave CBC with only bad banks. This is speculation on my part. I still own some preferreds, now about half of my high of shares owned. I am holding the remainder longer term but look at them as very speculative. I have less than 1/2% of my portfolio in them with fingers crossed that maybe in a year or so they can start paying divs again or they will come out with a decent exchange offer.
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