These are total returns, with dividends presumed to have been reinvested at the bid price on the ex-date. The list has been restricted to issues in the HIMIPref™ indices.
| Issue | Index | DBRS Rating | Monthly Performance | Notes (“Now” means “May 30”) |
| BCE.PR.Z | FixFloat | Pfd-2(low) [Under Review – Negative] |
-4.10% | |
| BCE.PR.R | FixFloat | Pfd-2(low) [Under Review – Negative] |
-3.88% | |
| CIU.PR.A | PerpetualDiscount | Pfd-2(high) | -3.74% | Now with a pre-tax bid-YTW of 5.80% based on a bid of 19.95 and a limitMaturity. |
| BCE.PR.I | FixFloat | Pfd-2(low) [Under Review – Negative] |
-3.73% | |
| BCE.PR.C | FixFloat | Pfd-2(low) [Under Review – Negative] |
-2.95% | |
| … | … | … | … | … |
| GWO.PR.I | PerpetualDiscount | Pfd-1(low) | +4.78% | Now with a pre-tax bid-YTW of 5.35% based on a bid of 21.03 and a limitMaturity. |
| SLF.PR.C | PerpetualDiscount | Pfd-1(low) | +5.15% | Now with a pre-tax bid-YTW of 5.43% based on a bid of 20.50 and a limitMaturity. |
| BNA.PR.B | SplitShare | Pfd-2(low) | +7.68% | Asset coverage of just under 3.2:1 as of April 30 according to the company. Now with a pre-tax bid-YTW of 6.94% based on a bid of 22.08 and a hardMaturity 2016-3-25 at 25.00. Compare with BNA.PR.C (6.58% to 2019-1-10; returned +1.87% on month) and BNA.PR.A (5.97% TO 2010-9-30; returned +1.31% on month). |
| BAM.PR.K | Floater | Pfd-2(low) | +9.14% | |
| BAM.PR.B | Floater | Pfd-2(low) | +11.98% |
BCE issues did very poorly on the month, presumably on fears that the Teachers’ deal will not proceed as contemplated.
The two BAM floaters did extremely well – probably a combination of their having been oversold in the first place and a widening consensus that perhaps Canada Prime is not on a one-way march to zero.
[…] with a pre-tax bid-YTW of 6.02% based on a bid of 18.82 and a limitMaturity. This was a top performer in May, so at least part of this drop is simply […]