CBAPG - CAP NOTE 3-BBSW+3.40% PERP NON-CUM RED T-04-25
Looking at CBAPG, it indicates BBSW + 3.4%. So, I was assuming it pays BBSW (0.10%) + 3.40% = 3.50% or $3.50 annually. This amount includes credits. When I look at the previous 4 Dividend Distributions for CBAPG, they total (82.93, 77.40, 74.96, 70.46) $3.0575. I was expecting to see $3.50
Does this mean that the Banks can and do declare 'any value' Distribution that suits their purposes? What is the purpose of the BBSW+3.40% if not maintained?
