In the press release announcing their new FixedReset 4.40%+160 issue, Power Financial announced:
The Corporation intends to redeem all of its $150 million First Preferred Shares, Series C on October 31, 2010.
The redemption price will be $25.40.
PWF.PR.D closed last night at 25.70-75 to yield 3.97-53% until this redemption.
PWF.PR.D commenced trading 1997-10-17, is tracked by HIMIPref™ and is a member of the Operating Retractible sub-index … there goes another one!
[…] PrefBlog Canadian Preferred Shares – Data and Discussion « PWF.PR.D To Be Redeemed […]
[…] To be redeemed. YTW SCENARIO Maturity Type : Call Maturity Date : 2010-11-30 Maturity Price : 25.40 Evaluated at bid price : 25.80 Bid-YTW : 3.13 % […]
Hi
I am trying to figure what will PWF pay on that issue ( PWF.PR.D) on october 31 st 2010.
Redemption price : 25.40$
Dividend :32.5c
Anything else ( dividend for october? )or is the 32.5c dividend for the period of july 1st to october 31rst ??
Thanks
First dividend was
1997-12-31 1998-01-05 1998-01-31 0.377530
after listing 1997-10-17
and subsequent dividend amounts have been 0.325000
Best guess is therefore that the regular dividend for the period ended 10/31 will be declared in late September / early October, and there will be no accrued dividend paid on top of the 25.40 redemption price.
However, no formal announcement has been made and you are better off asking the company.
[…] Called for redemptions. Nesbitt bought 31,200 from TD at 25.37. YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2012-10-30 Maturity Price : 25.00 Evaluated at bid price : 25.37 Bid-YTW : 4.38 % […]
Could prefinfo please show this as redeemed?
Now fixed!