{"id":16503,"date":"2011-09-28T18:47:50","date_gmt":"2011-09-28T22:47:50","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=16503"},"modified":"2011-09-28T18:47:50","modified_gmt":"2011-09-28T22:47:50","slug":"bam-pr-g-reset-rate-announced","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=16503","title":{"rendered":"BAM.PR.G to Reset to 3.80%"},"content":{"rendered":"<p><b><i>See updates, below<\/i><\/b><\/p>\n<p>I have heard from a non-authoritative source that:<\/p>\n<blockquote><p>4. The series 9 Preferred Shares curently pay a fixed annual dividend of 4.35% applied to $25.00 per share, payable quarterly. the final quarterly dividend payable at this rate of 40.271875 per share in Canadian funds is payable on November 1, 2011 to shareholders of record 15, 2011.<\/p>\n<p>5. After November 1, 2011, the Series 9 Preferred shares will pay, on a quaterly basis, as and when declared by the Board of Directors of the Corporation, a fixed annual dividend of $0.95 per share in Canadian funds for the following five years, representing a yield of 3.80% applied to $25.00 per share.<\/p><\/blockquote>\n<p>However I see nothing on the <a href=\"http:\/\/www.brookfield.com\">Brookfield website<\/a> about this, nor is there anything on <a href=\"http:\/\/www.sedar.com\">SEDAR<\/a>. A rate of 3.80% would be very generous compared with my <a href=\"http:\/\/www.prefblog.com\/?p=16407\">estimate of 3.12% for BCE.PR.T<\/a> (which will be finalized in mid-October).<\/p>\n<p>I have sent an inquiry to the company.<\/p>\n<p>The issue is convertable to and from BAM.PR.E on 2011-11-1<\/p>\n<p><b>Update, 2011-9-29<\/b>: The company directed me to a <a href=\"http:\/\/www.brookfield.com\/content\/preferred_shares\/series_8_and_series_9_conversion_option-29889.html\">web page with all the information<\/a>. The <a href=\"http:\/\/www.brookfield.com\/_Global\/1\/img\/content\/File\/Investor%20Relations\/Preferred%20Shares\/2011\/BAM_Form_Series_9_B_NOCP.pdf\">Notice of Conversion Privilege for BAM.PR.G<\/a>&#8216;s Point 5  reads in full:<\/p>\n<div align=\"center\"><a href=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2011\/09\/BAMGReset2011A1.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2011\/09\/BAMGReset2011A1.jpg\" alt=\"\" title=\"BAMGReset2011A\" width=\"400\" height=\"66\" class=\"alignnone size-full wp-image-16520\" \/><\/a><br \/><i>Click for Big<\/i><br \/><a href=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2011\/09\/BAMGReset2011B2.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2011\/09\/BAMGReset2011B2.jpg\" alt=\"\" title=\"BAMGReset2011B\" width=\"400\" height=\"69\" class=\"alignnone size-full wp-image-16519\" \/><\/a><br \/><i>Click for Big<\/i><\/div>\n","protected":false},"excerpt":{"rendered":"<p>See updates, below I have heard from a non-authoritative source that: 4. The series 9 Preferred Shares curently pay a fixed annual dividend of 4.35% applied to $25.00 per share, payable quarterly. the final quarterly &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-16503","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/16503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16503"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/16503\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}