Pembina Pipeline Corporation has announced: that it does not intend to exercise its right to redeem the currently outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 1 (“Series 1 Shares”) (TSX: PPL.PR.A) on …
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BMO.PR.E To Reset To 6.816%
Bank of Montreal has announced: the applicable dividend rates for its Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 44 (Non-Viability Contingent Capital (NVCC)) (the “Preferred Shares Series 44”) and Non-Cumulative Floating Rate Class …
BMO.PR.E To Be Extended
Bank of Montreal has announced: that it does not intend to exercise its right to redeem the currently outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 44 (Non-Viability Contingent Capital (NVCC)) of the …
NA.PR.G To Reset To 7.056%
National Bank of Canada has announced: Further to its announcement of September 20, 2023, National Bank of Canada (the “Bank”) (TSX: NA) announced today the dividend rates applicable to the Non-Cumulative 5‑Year Rate Reset First …
BN.PF.A To Reset To 6.744%
Brookfield Corporation has announced: that it has determined the fixed dividend rate on its Cumulative Class A Preference Shares, Series 32 (“Series 32 Shares”) (TSX: BN.PF.A) for the five years commencing October 1, 2023 and …
BCE.PR.Q To Reset At 6.538%
BCE Inc. has announced: Holders of BCE Inc. fixed-rate Series AQ Preferred Shares have the right to convert all or part of their shares, effective on October 3, 2023, on a one-for-one basis, into floating-rate …
AX.PR.E To Reset At 7.198%
Artis Real Estate Investment Trust has announced (on August 31): that it does not intend to exercise its right to redeem all or any part of the currently outstanding Preferred Units, Series E (“Series E …
NVCC: “Minimum Reset Guarantee” = “Incentive to Redeem”?
I have long accepted that banks cannot offer minimum reset guarantees on their FixedResets because this is considered to be an incentive to redeem by the regulators. I’m almost certain that I saw an authoritative …
MFC.PR.K To Reset To 6.35%
Manulife Financial Corporation has announced (but not yet on their website because, well, it’s Manulife): the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 13 (the “Series 13 Preferred Shares”) (TSX: …
ENB.PR.H To Reset To 6.112%
Enbridge Inc. has announced: that it does not intend to exercise its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series H (Series H Shares) (TSX: ENB.PR.H) on September 1, 2023. As a …