Q: You had recently mentioned that you prefer CVD over CPD currently. Can you please explain the difference between the two and why you prefer CVD at this time.
Thank you
Thank you
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Investment Q&A
Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.
Q: Hi Peter & Ryan, which of these two etf's would you prefer at this time? CPD or CVD. Thanks, Mario.
Q: I received e-mails offering me two Preferred Shares: Pembina Pipeline Corp. 5.75% Rate Reset Preferred Shares Class A, Series 13; and, Brookfield Office Properties Inc. 6.00% Minimum Rate Reset Class AAA Preference Shares, Series CC. They both have juicy yields and are tempting to purchase for income. The high yields are the upside, I would appreciate it if you could provide me with the downside to buying these shares in an income portfolio. Would it be best to simply buy CPD? Thank you.
Q: CPD has been slowly rising since hitting $11.13 on February 25 but it is still down 20% from its 52 week high of $15.33. What are your thoughts on this ETF?
Q: Would you consider this new convertible debenture investable in a well diversified bond portfolio?
Q: I have been holding this preferred stock for quite a while. It has been a great the yield, and I know what you think of the company, but would you give me an update of your risk assessment of holding on to this preferred.
What are the implications to Bombardier in cancelling the dividend, it being cumulative.
As always, thanks..
What are the implications to Bombardier in cancelling the dividend, it being cumulative.
As always, thanks..
Q: Please provide your opinion on purchasing preferred ETF's at the present time, for a one year hold, and which of the following would you prefer and why?.... CPD (Canadian Preferreds), XPF (North American Preferreds), HPR (Actively Managed Preferreds), ZPR (Laddered Preferreds). These funds would be held in a non-registered, fully taxable account. Thanks!
Q: What's up with the naming convention for preferred shares? For example, Artis REIT Series C Preferred Shares trade as AX.PR.U. I've noticed this with other prefs and find them hard to locate.
Q: RONA preferred shares didn't get the vote they needed for conversion and now today I got another offer for cash in either Cdn or US$ but need to let the broker know by April 8, 2016. Do you think Lowe will offer more than $20.00 and should reject this offer or accept it?
Dolores
Dolores
Q: Please comment on the following:
While it is exposed to oil in the west, Artis will still be able to cover dividends and, even if they cut common dividends would continue paying preferreds.
Second, reset preferred shares in general have been knocked down as rate increases failed to occur and exposure to oil in the west has pushed some down even further.
Third, Artis will likely recall AX.PR.A in September of 2017 when it comes up for reset, especially if rates are increasing at that point. I understand that Riocan recently recalled a reset. Currently trading around $17, AX.PR.A would be recalled at $25 if that happened. Worst case, assuming falling oil doesn't hurt Artis further and/or they don't recall AX.PR.A is that you continue to collect a pretty decent dividend when it is reset.
This is just speculation on my part. Please comment.
While it is exposed to oil in the west, Artis will still be able to cover dividends and, even if they cut common dividends would continue paying preferreds.
Second, reset preferred shares in general have been knocked down as rate increases failed to occur and exposure to oil in the west has pushed some down even further.
Third, Artis will likely recall AX.PR.A in September of 2017 when it comes up for reset, especially if rates are increasing at that point. I understand that Riocan recently recalled a reset. Currently trading around $17, AX.PR.A would be recalled at $25 if that happened. Worst case, assuming falling oil doesn't hurt Artis further and/or they don't recall AX.PR.A is that you continue to collect a pretty decent dividend when it is reset.
This is just speculation on my part. Please comment.
Q: Peter; Ok thanks - I guess this part was confusing to me - if they don't redeem them, then it's the 90 day TB?
Should CWB choose not to exercise its right to redeem the Series 7 Preferred Shares, holders of these shares will have the right to convert their shares into an equal number of non-cumulative floating rate First Preferred Shares Series 8 (Non-Viability Contingent Capital (NVCC)) (the "Series 8 Preferred Shares"), subject to certain conditions, on July 31, 2021, and on July 31 every five years thereafter. Holders of the Series 8 Preferred Shares will be entitled to receive quarterly floating dividends, as and when declared by the Board of Directors of CWB, equal to the 90-day Government of Canada Treasury Bill rate plus 547 basis points.
Should CWB choose not to exercise its right to redeem the Series 7 Preferred Shares, holders of these shares will have the right to convert their shares into an equal number of non-cumulative floating rate First Preferred Shares Series 8 (Non-Viability Contingent Capital (NVCC)) (the "Series 8 Preferred Shares"), subject to certain conditions, on July 31, 2021, and on July 31 every five years thereafter. Holders of the Series 8 Preferred Shares will be entitled to receive quarterly floating dividends, as and when declared by the Board of Directors of CWB, equal to the 90-day Government of Canada Treasury Bill rate plus 547 basis points.
Q: Peter; I was interested in buying this Pfd. after reading the question and answer today but when I checked the offering info it says the reset is based on the 90 day Tbills, not the five year Canada's. Is that right? Thanks.Rod
Q: Just issued NVCC Fixed reset 6.25% GC5+547bps
Can you comment on this issue. Particularly the viability component and the Credit quality o the Bank
Ernie
Can you comment on this issue. Particularly the viability component and the Credit quality o the Bank
Ernie
Q: Morning Peter & team,
Looking at I5 Income on CPD now down a lot still with 5% yield, it seems a fairly good holding for my TSFA.
Your idea is very appreciated.
Tak
Looking at I5 Income on CPD now down a lot still with 5% yield, it seems a fairly good holding for my TSFA.
Your idea is very appreciated.
Tak
Q: I bought the Canaccord preferreds about a year ago. As usually happens, the price of the preferreds went down with the normal stock, to the extent that the yield is now around 15%. Is this yield safe? Can I add to my holdings while I wait for CF to recover?
Q: Recently read an article in Globeinvestor entitled "It's time to check out the dazzling yields of Canada's big bank preferred shares" a recent offering from them pays a dividend of 5.5% and after 5 years is reset to 4.8% over the 5 year Canadian bond rate. My question is what would the symbol be or how could I purchase this,I trade online and that's the vehicle I would like to purchase them through,appreciate your answer ..thanks
Q: Wandering if you could help me out,these preferred shares are advertised as 5.5% dividend,but when I go to my BMO Investorline account or Globeinvestor it shows 0% for dividend and no ex date.any help on how often the dividend is paid and why it shows zero.This is a new offering in early March has had respectable volume and done well appreciate your information thanks
Q: Interesting article in the Globe this morning, suggesting to consider the newly issued preferreds with 5.5% + yield, some with 4-4.8% reset rate. Also, that buying individual preferred is a better choice than the ZPR. Can you suggest some of your choices please.
J.A.P. Burlington
J.A.P. Burlington
Q: Peter; Would this ETF be buying the " new" bank issued preferreds.
Plus re the " egg on your face" comment I would ask David to watch BNN Market Call guests explain their Past Picks , some down 25-75 %. If every stock 5i picked went up they would be under investigation !
Keep up the good work . Publish if you wish.
Rod
Plus re the " egg on your face" comment I would ask David to watch BNN Market Call guests explain their Past Picks , some down 25-75 %. If every stock 5i picked went up they would be under investigation !
Keep up the good work . Publish if you wish.
Rod
Q: RBC and a number of the other banks have recently issued preferred shares(series BM ?) where the dividend rate will reset every five years at a rate equal to 4.80 per cent over the 5-year Government of Canada bond yield. Do you think these are a good buy for income and safety? If yes are they available now and what is the symbol of the Royal Bank version ? Thanks Ken