Q: Ref Brian question on Friday, Dec 1 :
``The annual dividend rate for the Series 1 Shares for the five-year period from and including December 1, 2023, to, but excluding, December 1, 2028, will be 6.525 percent, being equal to the five-year Government of Canada bond yield of 4.055 percent determined as of today plus 2.47 percent, in accordance with the terms of the Series 1 Shares.`` .
According to me, the dividend should now be 0.4075 …
``The annual dividend rate for the Series 1 Shares for the five-year period from and including December 1, 2023, to, but excluding, December 1, 2028, will be 6.525 percent, being equal to the five-year Government of Canada bond yield of 4.055 percent determined as of today plus 2.47 percent, in accordance with the terms of the Series 1 Shares.`` .
According to me, the dividend should now be 0.4075 …
5i Research Answer:
This is correct, the new dividend beginning December 1, 2023 should be $0.4075 based on a 6.525% yield and a $25 face value.