Month: December 2009

5Banc Split Inc. has announced:

that it has called 1,796,047 Preferred Shares for cash redemption on December 15, 2009 representing approximately 17.2% of the outstanding Preferred Shares as a result of holders of 1,796,047 Capital Shares exercising their special annual retraction rights. The Preferred Shares shall be redeemed on a pro rata basis, so that holders of record of Preferred Shares on the close of business on December 14, 2009 will have approximately 17.2% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $10.00 per share. Holders of Preferred Shares that have been called for redemption will be entitled to receive dividends thereon which have been declared but remain unpaid up to and including December 15, 2009.

In addition, holders of a further 1,222,021 Preferred and Capital Shares have deposited such shares concurrently for retraction on December 15, 2009. As a result, a total of 3,018,068 Preferred and Capital Shares, or approximately 25.8% of both classes of shares currently outstanding will be redeemed.

Payment of the amount due to retracting shareholders will be made by the Company on December 15, 2009. From and after December 16, 2009 the holders of Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any right in respect of such shares except to receive the amount due on redemption.

FBS.PR.B was last mentioned on PrefBlog when it was upgraded to Pfd-3 by DBRS. FBS.PR.B is tracked by HIMIPref™, but is relegated to the “Scraps” subindex on credit concerns.

Big 8 Split Corp. has announced:

that it has called 137,975 Preferred Shares for cash redemption on December 15, 2009 representing approximately 11.5% of the outstanding Preferred Shares as a result of holders of 137,975 Capital Shares exercising their special annual retraction rights. The Preferred Shares shall be redeemed on a pro rata basis, so that holders of record of Preferred Shares on the close of business on December 14, 2009 will have approximately 11.5% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $12.00 per share. Holders of Preferred Shares that have been called for redemption will be entitled to receive dividends thereon which have been declared but remain unpaid up to and including December 15, 2009.

Payment of the amount due to retracting shareholders will be made by the Company on December 15, 2009. From and after December 16, 2009 the holders of Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any right in respect of such shares except to receive the amount due on redemption.

BIG.PR.B was last mentioned on HIMIPref™ when DBRS put the issue on Review-Negative. BIG.PR.B is not tracked by HIMIPref™.

Energy Split Corp. II has announced:

that it has called 5,209 ROC Preferred Shares for cash redemption on December 16, 2009 (in accordance with the Company’s Articles) representing approximately 0.559% of the outstanding ROC Preferred Shares as a result of the special annual retraction of 107,818 Capital Yield Shares by the holders thereof. The ROC Preferred Shares shall be redeemed on a pro rata basis, so that each holder of ROC Preferred Shares of record on December 15, 2009 will have approximately 0.559% of their ROC Preferred Shares redeemed. The redemption price for the ROC Preferred Shares will be $13.74 per share.

Holders of ROC Preferred Shares that are on record for dividends but have been called for redemption will be entitled to receive dividends thereon which have been declared but remain unpaid up to but not including December 16, 2009.

Payment of the amount due to holders of ROC Preferred Shares will be made by the Company on December 16, 2009. From and after December 16, 2009 the holders of ROC Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any right in respect of such shares except to receive the amount due on redemption.

The Company’s ongoing dividend policy entitles holders of ROC Preferred Shares to receive quarterly fixed cumulative distributions equal to $0.1718 per ROC Preferred Share. The Capital Yield Shareholders are provided with a leveraged play on the yield and price performance from a fixed portfolio consisting of 14 oil and gas royalty trusts listed on the Toronto Stock Exchange.

EN.PR.A was last mentioned on PrefBlog when they revised the Capital Unit Dividend Policy. EN.PR.A is tracked by HIMIPref™ but is relegated to the “Scraps” subindex on both volume and credit concerns.