Category: Better Communication, Please!

Better Communication, Please!

BNA.PR.C : First Dividend Still Unconfirmed

As previously noted, I’m having difficulties with this dividend! Dividend dates for this issue have been estimated as 2/26, 2/28, 3/7, even though the BNA.PR.A / BNA.PR.B dates are 2/20, 2/22, 3/7.

However, neither Bloomberg nor the TSX Data service are showing the BNA.PR.C dividend.

I don’t know what to do about this. The company has responded to my initial query about the dividend itself (which they say is the same as the other two) but not (as yet) to my follow-up, asking when the dividend on BNA.PR.C was declared. This is something of a  point (in terms of checking for possible administrative foul-ups) because BNA.PR.C did not exist when the other dividends were declared (December 4 or 5, take your pick).

I’ll try again tomorrow, February 23, to get some answers.

Until then (at least!), the dividend dates on HIMIPref™ will remain as 2/26, 2/28, 3/7, but it’s only a guess! Since HIMIPref™ will evaluate the issue on a cum-dividend basis, whereas it might be ex-dividend, I recommend that any HIMIPref™ valuation leading to a purchase of BNA.PR.C be ignored until this matter is cleared up.

 

Better Communication, Please!

ABK.PR.C Declares Dividends

In a press release today, it was announced that:

The Board of Directors of AllBanc Split Corp. (the “Company”) has today declared a capital gains dividend of $0.76 per Class A Preferred Share and a capital gains dividend of $0.66 per Class A Capital Share, payable on March 9, 2007 to holders of record at the close of business on March 8, 2007.

The dividends previously estimated have been adjusted on HIMIPref™ to reflect the announcement.

Better Communication, Please!

BNA.PR.A / BNA.PR.B Dividends Confirmed; BNA.PR.C unconfirmed

According to both Bloomberg & the TSX, dividends for BNA.PR.A and BNA.PR.B have been declared and both these issues are ex-Dividend today, February 20. According to Bloomberg, the declaration date was 12/5; the TSX shows the declaration date as 12/4.

The HIMIPref™ data changes previously announced have been reversed for these two issues.

BNA.PR.C is a little trickier; the prospectus states that the expected record date for the first dividend will be 2/22, which implies an ex-dividend date of today; but neither Bloomberg nor the TSX are showing it.

I have sent an inquiry to the company.

Better Communication, Please!

BNA.PR.A / BNA.PR.B / BNA.PR.C Dividend Estimate

As previously noted, there seems to be a little difficulty this quarter getting dividend information from BAM Split Corp. No data is available from press releases, their website, or TSX data services.

Accordingly, dividend dates for these issues have been re-estimated as being 2/26, 2/28 and 3/7.

The following table shows the last eight dividends for BNA.PR.A

Recent Dividends, BNA.PR.A
Ex-Date Record Date Pay Date Amount
2005-02-18 2005-02-22 2005-03-07 0.390625
2005-05-18 2005-05-20 2005-06-07 0.390625
2005-08-18 2005-08-22 2005-09-07 0.390625
2005-11-18 2005-11-22 2005-12-07 0.390625
2006-02-20 2006-02-22 2006-03-07 0.390625
2006-05-19 2006-05-24 2006-06-07 0.390625
2006-08-18 2006-08-22 2006-09-07 0.390625
2006-11-20 2006-11-22 2006-12-07 0.390625

Better Communication, Please!

ABK.PR.C Dividend Estimate

Dividends have not yet been declared for this issue. On the basis of past history:

Recent Dividends, ABK.PR.C
Ex-Date Record Date Pay Date Amount
2005-03-07 2005-03-09 2005-03-10 0.760000
2005-06-07 2005-06-09 2005-06-10 0.760000
2005-08-22 2005-08-24 2005-09-10 0.760000
2005-11-22 2005-11-24 2005-12-09 0.760000
2006-03-07 2006-03-09 2006-03-10 0.760000
2006-05-19 2006-05-24 2006-06-09 0.760000
2006-08-22 2006-08-24 2006-09-08 0.760000
2006-11-22 2006-11-24 2006-12-08 0.760000

… it appears that this company enjoys playing games with the first dividend in each calendar year.

Why, I couldn’t begin to guess. However, the dividend dates have been estimated as 3/7, 3/9, 3/12; this will be checked in due course.