Investment Q&A

• Northland Power Inc. (NPI)
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Q: I own this preferred and just got notice from my direct broker that there was going to be a conversion. I can either convert all or any of its 3 Series Shares into Cumulative Floating rate Preferrred shares Series 4 on the basis of one Series 4 for each Series 3.

Do you recommend I convert or stand pat?

And why?

Thanks

Sheldon

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Read Answer Asked by Sheldon on December 07, 2017

• Exchange Income Corporation (EIF)
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Q: When a company issues convertible debentures like EIF just did, on the balance sheet is it considered an increase of its debt level or a dilution of the number of shares ? It seems to me both outcomes are possible over the term of convertible debentures.

Thank you

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Read Answer Asked by Guy on December 07, 2017

• Pembina Pipeline Corporation (PPL)
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Q: Hi Peter
Can you give me your views on the new PPL preferred 4.90% . Is it worth an investment for my RRSP .

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Read Answer Asked by Candi on December 06, 2017

• Miscellaneous (MISC)
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Q: Good Morning
My question is about which preferred shares can be classified as being part of a FIXED INCOME component of a portfolio.

1. Would you classify the rate reset preferreds as part of a fixed income portfolio?
2. Would you classify also the perpetual preferred shares as part of a fixed income portfolio?
3. Would you classify only the investment grade preferred shares as part of a fixed income portfolio (e.g banks and insurance companies) ?

Some analysts include only rate resets and not perpetuals as part of Fixed Income. Yet others only the investment grade preferreds as part of fixed income.

What is your opinion?

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Read Answer Asked by Terry on December 05, 2017

• Enbridge Inc. (ENB)
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Q: Can you provide an opinion on Enbridge Preferred Series H (ENB PR.A ) shares ?

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Read Answer Asked by Douglas on December 04, 2017

• iShares S&P/TSX Canadian Preferred Share Index ETF (CPD)
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Q: Is it a cause for concern that the monthly dividend keeps slowly being reduced? We are at 6 cents a month now.

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Read Answer Asked by Greg on December 04, 2017

• ECN Capital Corp. (ECN)
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Q: Would you be comfortable investing in this preferred share for income? Does it have a minimum guarantee dividend that is must pay?

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Read Answer Asked by Robert on December 04, 2017

• Just Energy Group Inc. (JE)
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Q: Would you be comfortable buying convertible debenture JE.DB.B for income? Are there any concerns that the company will not be able to meet its obligations when the debenture matures in 2018?

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Read Answer Asked by Robert on December 04, 2017

• Miscellaneous (MISC)
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Q: I have used the Financial Post site for convertible debenture quotes for many years. It was an awesome site that providing me with all the info I needed for convertible debentures trading on the TSX. About 4 weeks ago it went away and I have been unable to find another site that was comparable to this one? Does anyone know another site that provides a summary of quotes for Canadian convertible debentures?

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Read Answer Asked by Robert on December 04, 2017

• Exchange Income Corporation (EIF)
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Q: Morning .. the re-vamp is great ... EIF issued debentures on Thursday to the tune of $70,000,000 and immediately increased it to $100 m .. can you explain whether the debentures are a positive thing and also is the rather sudden increase good news ? Markets seem to like this offering. Thanks for all you do.

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Read Answer Asked by Alan on December 01, 2017

• Exchange Income Corporation (EIF)
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Q: What should we make of yesterday's bought deal ? Is it time to initiate a position ?

Thank you

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Read Answer Asked by Guy on December 01, 2017

• Miscellaneous (MISC)
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Q: ? Asked by claude on November 29, 2017:
------------------------------------------------
Also, dividends cannot usually be paid on common shares before bond interest. Warrants are a form of convertibles which usually do not pay interest.
###

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Read Answer Asked by Russ on November 30, 2017

• Miscellaneous (MISC)
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Q: on a private placement, what are the advantages for an investor to buy a convert. vs a stock offered at discount
Thanks
CDJ

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Read Answer Asked by claude on November 29, 2017

• PPL Corporation (PPL)
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Q: What is the ticker symbol for the new rate reset preferred shares described in the question by Wayne today? Joe

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Read Answer Asked by Joseph on November 28, 2017

• Pembina Pipeline Corporation (PPL)
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Q: I see Pembina is offering preferred shares at $25.00 and yielding 4.9%. Would this be good for the fixed income part of a persons portfolio. How safe is it.



w

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Read Answer Asked by Wayne on November 28, 2017

• Enbridge Inc. (ENB)
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Q: This is a reset preferred that I bought in the $16 range. With increasing interest rates and collecting the interest, I have done quite well. As long as interest is predicted to rise it will increase in value.
I was thinking that about selling if there is a forecast that interest rate will rise again in Dec or Jan. Will use proceeds to buy ENB in The midst of tax loss selling giving me a better dividend and more opportunity for growth. What’s your view on interest rates and buying ENB ?

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Read Answer Asked by Roy on November 28, 2017

• Premium Brands Holdings Corporation (PBH)
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Q: I hold PBH.DB.E and am wondering if I should sell the debenture as the current price has gone over the conversion price adjusted for the 125% April 2019 redemption price.

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Read Answer Asked by Greg on November 24, 2017

• Global X Active Preferred Share ETF (HPR)
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• Lysander-Slater Preferred Share ActivETF (PR)
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Q: Which would you expect to perform better in a rising rate environment? PR slightly (by about 1%) outperformed HPR over the past 2+ years (since inception of PR), has a higher MER and both are actively managed.

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Read Answer Asked by Robin on November 21, 2017

Q: In my previous question I asked about BAM.PR.R not the common stock BAM.A. Could you please revisit my previous question.
BAM.PR.R is a reset preferred.

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Read Answer Asked by Roy on November 17, 2017

• Brookfield Property Partners L.P. (BPY.UN)
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Q: Brookfield Properties Preferred is available with different extensions from .x, .g, .t, .c, .p, .w, .a, etc. Are all these different preferreds and how can you tell which one is the best one to buy? Many tnx and great upgrade to the site.

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Read Answer Asked by Jacques on November 16, 2017