Q: Hi, I am interested in Toronto Dominion's preferred share TD.PR.O. It yields 4.85% & is presently trading above 25$. The prospectus states that after Oct 30, 2014, the bank will only pay 25$ if the bank chooses to redeem the shares. Would you at 5i have any insight as to what might happen to the yield after Oct 30? Does it remain at 4.85% forever. Thanks ... Cal
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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: Hello Peter
I bought NorthWest Healthcare Properties REIT (TSX: NWH.UN) in 2013. I now think it is structured as a Limited Partnership because they pay "distributions" and not "dividends", but their website doesn't actually say so. Are all .UN listings limited partnerships?
Their website does say : "If necessary an extra distribution will be declared on December 31 each year such that the REIT will not be liable for tax that year."
They also say : "In 2013, 100% of the distributions were tax deferred, by reason of the REIT’s ability to claim capital costs allowance. The adjusted cost base of the Units by the Unitholder will generally be reduced by the non-taxable portion of the distribution."
Their table on the website shows "Total Taxable Income Per Unit" is zero for 2013, but it says the amount is shown in Box 42 [on the presumed T-slip]. The distributions I have received are evidently a "Return of Capital".
Does that mean the distributions I received are not taxable in any way and does that mean they won't be issuing a T-slip to include in my tax return? I haven't received one yet and I have received no answer back from my enquiry to the company. I am ready to file my tax return now but don't know if I should wait till nearly the end of April in case they do send one.
Many thanks........... Paul
I bought NorthWest Healthcare Properties REIT (TSX: NWH.UN) in 2013. I now think it is structured as a Limited Partnership because they pay "distributions" and not "dividends", but their website doesn't actually say so. Are all .UN listings limited partnerships?
Their website does say : "If necessary an extra distribution will be declared on December 31 each year such that the REIT will not be liable for tax that year."
They also say : "In 2013, 100% of the distributions were tax deferred, by reason of the REIT’s ability to claim capital costs allowance. The adjusted cost base of the Units by the Unitholder will generally be reduced by the non-taxable portion of the distribution."
Their table on the website shows "Total Taxable Income Per Unit" is zero for 2013, but it says the amount is shown in Box 42 [on the presumed T-slip]. The distributions I have received are evidently a "Return of Capital".
Does that mean the distributions I received are not taxable in any way and does that mean they won't be issuing a T-slip to include in my tax return? I haven't received one yet and I have received no answer back from my enquiry to the company. I am ready to file my tax return now but don't know if I should wait till nearly the end of April in case they do send one.
Many thanks........... Paul
Q: Hi Peter & team, I have following prefered shares in cash account: BPO.PR.K, BPO.PR.T, HSE.PR.A, and CM.PR.E, BRF.PR.E,
REI.PR.C in registered account, could you tell me what type of
preferred share they are ?
Thank you. M.N
REI.PR.C in registered account, could you tell me what type of
preferred share they are ?
Thank you. M.N
Q: I have two questions:
1. your outlook on US-based PFF
2. why do you thing PFF is close to an all-time high while canadian preferred ETFs like CPD and ZPR are ways below their prior highs
Many thanks
1. your outlook on US-based PFF
2. why do you thing PFF is close to an all-time high while canadian preferred ETFs like CPD and ZPR are ways below their prior highs
Many thanks
Q: Hi,
Besides the 31-Dec-18 4.5% Cineplex convertible debentures which have been mentioned on here before, does 5i have some other favourite convertible debenture issues that you could recommend?
Thank you.
Besides the 31-Dec-18 4.5% Cineplex convertible debentures which have been mentioned on here before, does 5i have some other favourite convertible debenture issues that you could recommend?
Thank you.
Q: Hi 5i team, I'm presently holding these preferred's and would like your feedback on hold or sell and what to buy if a sell is recommended. ALA.PR.A, SJR.PR.A, BPO.PR.P, BNS.PR.A. I'm looking for stable income with small 'g' growth (if possible). Thanks
Q: I am considering ELF.PR.G as a short term income holding. Has a $25 call 17Oct2014, currently price at a discount. DBRS discontinued Credit Rating in 2006 on this company.
Can you comment on it's short term credit worthiness
Thank You
Ernie
Can you comment on it's short term credit worthiness
Thank You
Ernie
Q: I CURRENTLY OWN PREFERRED CPX.PR.A. WILL THIS BE REDEEMED AT 25 ON DEC 31/15 OR WOULD IT BE REDEEMED AT MARKET ON THAT DATE
GREAT SERVICE
WAYNE
GREAT SERVICE
WAYNE
Q: Hi all,
I'm trying to understand what I conceive as price discrepancy between the atlantic power preferred shares and their convertible debentures. AZP.PR.B is a rate reset presently yielding 12.5% (17.5% after tax consideration) and the longest term (2019) debentures (atp.db.d) yields 13.92% to maturity. Is the 3.6% spread simply due to the added duration (preferreds could be reset indefinitely in theory) and the fact that they are lower down on the balance sheet. Or, is that fact these preferreds were originally issued by Epcor, and are really a held in subsidiary of Atlantic Power corporation. How would this effect the preferred shares in the event of a default.
Thanks again.
Emile
I'm trying to understand what I conceive as price discrepancy between the atlantic power preferred shares and their convertible debentures. AZP.PR.B is a rate reset presently yielding 12.5% (17.5% after tax consideration) and the longest term (2019) debentures (atp.db.d) yields 13.92% to maturity. Is the 3.6% spread simply due to the added duration (preferreds could be reset indefinitely in theory) and the fact that they are lower down on the balance sheet. Or, is that fact these preferreds were originally issued by Epcor, and are really a held in subsidiary of Atlantic Power corporation. How would this effect the preferred shares in the event of a default.
Thanks again.
Emile
Q: I have a preferred share coming up to the reset date March 31 CCS.PR.D and it will reset to GOC 5 year ~1.46% + 5.21 bp. What will likely happen to the share price on this date? I will get my dividend for sure but the yield will drop hence will the share price drop, stay the same as current price or what?
Derek
Derek
Q: Dear Peter, In no hurry for a reply. I own a convertible Debenture with a maturity in 21014. It appears to be trading at the level of my purchase . What will take place at maturity? Will this bond just mature at Par or will the conversion be forced or does the debenture holder have an option?
Q: As a retired senior, would CPF.UN (Can 50 Preferred), or would CPD be better for part of the income percentage of my portfolio? I noticed on occasion you have mentioned individual preferred shares. Do you prefer individual preferred or a basket since they are difficult for the retail investor to understand them. I will look forward to your income portfolio.
Thank you. Shirley
Thank you. Shirley
Q: Thanks for the 4 rate-reset preferreds in response to David's inquiry. They look perfect for my needs. One question please. Is the rate reset the only option available to the issuers at reset day, or are there other options.
Q: Rate-reset Prefs
Hi there. Could you please give me, say, three that you like for income, ie. higher but"safe" yield, for a a well balanced retirement portfolio. Thanks as always.
Hi there. Could you please give me, say, three that you like for income, ie. higher but"safe" yield, for a a well balanced retirement portfolio. Thanks as always.
Q: I am thinking about adding DCD.UN. I realize this is sort of a bond/equity. If you have info on this, I would appreciate your comments.
Thanks.
Thanks.
Q: Do you have any debenture recommendations? What do you think of AXL.DB?
Q: hi,
I have debentures of Argent energy - aet.db.- expiry June 2018 - Do you think I should hold them or just sell.
Thank you.
I have debentures of Argent energy - aet.db.- expiry June 2018 - Do you think I should hold them or just sell.
Thank you.
Q: Hi Peter/team I would like your opinion on TRP.PR.B is it worth holding .thanks for your great job!!! Jim
Q: Hi Peter could you tell me if there is difference in efn.pr.a and the new ipo efn.pr.c ?
Thx Stan
Thx Stan
Q: We would like to invest in a preferred share. Can you recommend some of the best for us?
Thank you
Thank you