Compare Minimum Rate Reset Preferred Shares

Using the table below you can Compare Minimum Rate Reset Preferred Shares, issued by Canadian companies.  We have included all shares offered by all companies across all sectors. These resets offer a guaranteed minimum yield at reset time. The minimum rate limits your downside risk while at the same time you get to participate on the upside if rates go up. A great holding for all investors looking for guaranteed yields. We present the information in an easy to view and understand format.  As a result you can pick the right share to purchase or sell.

Compare Minimum Rate Reset Preferred Shares Process

This type of asset within the preferred share world is, in a way, unique. It offers the safety of a perpetual by providing a minimum fixed yield.

  1. Just like a perpetual you are guaranteed a set dividend. In this case the dividend is a minimum set at issue time. You can rest assured that no matter what the rate, you are going to receive the mimimum guaranteed dividend. In other words, your downside is defined and you can plan accordingly.
  2. Similar to a reset, it offers protection against inflation. If rates go up to the point where the 5Yr plus the spread exceeds the minimum, you will end up getting the higher yield. This is a great way to participate to the upside when interest rates move up.

I feel this type of share is one where you buy and forget. No matter what happens with interest rates you end up getting a fair deal at reset.

Sort the table on column “Fixed Rate Base” for easier parsing of the data. Check the Minimum rate and the spread over the 5Yr rate.  Use “New Spread (%Increase | value)” to find the discount / premium currently assigned to it.

Conclusion

We expect each investor to review the various metrics, and make a determination on the totality of their values. While at the same time expressing their personal investing style. In other words we present you with the information and you make a choice you are comfortable with.

If you need more information on how to use the metrics below, see our how to YouTube video  or our post how to pick the best preferred share of a company.

 

Table To Compare Minimum Rate Reset Preferred Shares

The following metrics are now only available on the premium version of this tool:


  1. Reset Date.
  2. Reset (Yield | Dividend). Represents the yield and dividend for the current issue after the upcoming reset. For this calculation it’s assumed the key rates are going to be the same as todays published rates. The reset yield is the sum of the key rate for the base term (5YR, 3Month, etc) plus the published spread. Since we do not know what the key rate will be at the time of the reset we assume its going to be the same as today. The ability to use a different set of rates during this caclulation is planned for a future release.
  3. Blended (Yield | Dividend).
  4. Rate Increase Percent.
  5. Rate Increase To Value.
  6. New Spread increase. It shows the effect or the current price on the issue spread of the preferred. It shows the percent increase/decrease of the new spread
  7. New Spread Value.
  8. Short Position.
  9. Additional Features.
  10. Years To Double Initial Investment. How many years will it take for the initial investment to double.
  11. Outstanding float.
  12. Market Cap In Bilions.
  13. Common Stock P/E Ratio.
  14. Common Stock P/B Ratio.
  15. Common Stock Yield.
Last Updated: Market Data Jan-22 19:14, Model Metrics Jan-22 19:16
Credit RatingSymbolPrice52W High52W Low
Fixed Rate Baseyield and dividend for the current issue based on last night’s closing stock price
Current (Yield Dividend)Name
Pfd3LECN-C ECN.PR.C CA26829L6026 $22.31$22.91$11.745yr min 6.25% + 5.19%06.99% $1.5600ECN_Capital_Corp._6.25%,_Series_C
Pfd3LECN-A ECN.PR.A CA26829L4047 $23.35$23.56$11.755yr min 6.5% + 5.44%06.98% $1.6300ECN_Capital_Corp._6.50%,_Series_A
Pfd3LAX-I AX.PR.I CA04315L8657 $24.35$26.09$15.825yr min 6% + 3.93%06.16% $1.5000Artis_REIT_6.00%,_Series_I
Pfd3BPO-C BPO.PR.C CA1129006674 $24.70$26.31$15.035yr min 6% + 5.19%06.07% $1.5000Brookfield_Office_Properties_Inc._6.00%,_Series_CC
Pfd3BPO-I BPO.PR.I CA1129005924 $20.19$21.16$11.505yr min 4.85% + 3.23%06.00% $1.2120Brookfield_Office_Properties_Inc._4.85%,_Series_II
Pfd3LCPX-G CPX.PR.G CA14042M8887 $25.20$26.17$18.035yr min 6% + 5.26%05.95% $1.5000Capital_Power_Corp._6.00%,_Series_7
Pfd3BPO-G BPO.PR.G CA1129006260 $20.58$22.24$11.695yr min 4.85% + 3.32%05.89% $1.2120Brookfield_Office_Properties_Inc._4.85%,_Series_GG
Pfd3BPO-E BPO.PR.E CA1129006427 $21.77$23.12$12.265yr min 5.1% + 3.96%05.86% $1.2760Brookfield_Office_Properties_Inc._5.10%,_Series_EE
Pfd3HEFN-I EFN.PR.I CA2861816643 $25.18$25.50$14.575yr min 5.75% + 4.64%05.72% $1.4400Element_Financial_Corp._5.75%,_Series_I
Pfd3LCPX-I CPX.PR.I CA14042M8622 $25.17$25.99$17.005yr min 5.75% + 4.12%05.72% $1.4400Capital_Power_Corp._5.75%,_Series_9
Pfd3PPL-K PPL.PR.K CA7063278716 $25.27$26.01$14.515yr min 5.75% + 5.00%05.70% $1.4400Pembina_Pipeline_Corp_5.75%__PREF_SER_11
NRBIK-A BIK.PR.A CA09075W2094 $25.76$26.67$15.505yr min 5.85% + 3.96%05.68% $1.46250Brookfield_Infrastructure_Partners_L.P._5.85%,_Series_1
Pfd3PPL-M PPL.PR.M CA7063278559 $25.40$26.17$13.955yr min 5.75% + 4.96%05.67% $1.4400Pembina_Pipeline_Corp_5.75%__PREF_SER_13
Pfd3LCPX-K CPX.PR.K CA14042M8473 $25.36$26.97$16.955yr min 5.75% + 4.15%05.67% $1.4376Capital_Power_Corp._5.75%,_Series_11
Pfd3HBEP-I BEP.PR.I BMG162581653 $25.40$25.91$17.005yr min 5.75% + 5.01%05.65% $1.4360Brookfield_Renewable_Partners_L.P._5.75%,_Series_9
Pfd3HBEP-O BEP.PR.O BMG162582156 $25.50$25.88$15.555yr min 5.75% + 3.49%05.64% $1.4375Brookfield_Renewable_Partners_L.P._5.75%,_Series_15
Pfd3HBEP-G BEP.PR.G BMG162581323 $25.47$25.60$15.905yr min 5.5% + 4.47%05.40% $1.3760Brookfield_Renewable_Partners_L.P._5.50%,_Series_7
NRBIP-B BIP.PR.B BMG162521436 $25.58$25.80$16.015yr min 5.5% + 4.53%05.38% $1.37500Brookfield_Infrastructure_Partners_L.P._5.50%,_Series_3
Pfd2LTRP-J TRP.PR.J CA87807B8345 $25.56$26.19$18.805yr min 5.5% + 4.69%05.36% $1.3700TC_Energy_-_Series_13
NRBIP-C BIP.PR.C BMG162521683 $25.14$25.85$15.515yr min 5.35% + 4.64%05.33% $1.34000Brookfield_Infrastructure_Partners_L.P._5.35%,_Series_5
Pfd3PPL.PF.E PPL.PF.E CA7063277239 $24.85$24.95$11.655yr min 5.2% + 3.51%05.31% $1.3200PPL_Series_25_Shares,_KML_Series_25_min_5.2
Pfd3PPL.PF.C PPL.PF.C CA7063277494 $24.95$25.05$11.805yr min 5.25% + 3.65%05.25% $1.3100PPL_Series_23_Shares
NRBIP-F BIP.PR.F BMG162522269 $24.55$24.64$15.025yr min 5.10% + 2.92%05.21% $1.28000Brookfield_Infrastructure_Partners_L.P._5.10%,_Series_11
NRBIP-E BIP.PR.E BMG162522004 $24.34$24.60$15.005yr min 5.00% + 3.00%05.14% $1.25000Brookfield_Infrastructure_Partners_L.P._5.00%,_Series_9
Pfd3HENB.PF.I ENB.PF.I CA29250N5358 $24.94$26.25$16.375yr min 5.15% + 4.14%05.13% $1.2800Enbridge_Series_17,_Cumulative_Redeemable_Preference_Shares
Pfd3HW-M W.PR.M CA95751D1289 $25.36$26.21$15.755yr min 5.20% + 4.52%05.13% $1.3000Westcoast_Energy_Inc._5.20%,_Series_12
Pfd3PPL.PF.A PPL.PF.A CA7063277643 $23.98$24.22$11.695yr min 4.9% + 3.26%05.11% $1.2250Class_A_Preferred_Shares,_Series_21
Pfd3HBEP-M BEP.PR.M BMG162584053 $24.71$24.88$14.755yr min 5.0% + 3.00%05.07% $1.2520Brookfield_Renewable_Partners_L.P._5.00%,_Series_13
Pfd3HENB.PF.K ENB.PF.K CA29250N5192 $24.16$24.84$15.205yr min 4.9% + 3.17%05.07% $1.2250Enbridge_Inc._4.90%,_Series_19
NRBIP-D BIP.PR.D BMG162521840 $24.75$24.85$15.075yr min 5.00% + 3.78%05.05% $1.25000Brookfield_Infrastructure_Partners_L.P._5.00%,_Series_7
Pfd3LALA-K ALA.PR.K CA0213618378 $24.85$25.10$12.405yr min 5% + 3.80%05.04% $1.25AltaGas_Ltd._5%_Series_K
Pfd3HBEP-K BEP.PR.K BMG162581992 $24.94$25.04$14.525yr min 5.0% + 3.28%05.02% $1.2520Brookfield_Renewable_Partners_L.P._5.00%,_Series_11
Pfd2LBAM.PF.H CA1125854846 $25.74$26.01$17.205yr min 5% + 4.17%04.86% $1.2500Brookfield_Asset_Management_Inc._5.00%,_Series_44
Pfd2LTRP-K TRP.PR.K CA87807B8188 $25.17$25.75$16.455yr min 4.9% + 3.85%04.85% $1.2200TC_Energy-series_15
NREMA-H EMA.PR.H CA2908768617 $25.50$26.01$19.145yr min 4.9% + 2.54%04.82% $1.2300Cumulative_Emera_Inc._Min_4.90%,_Series_H
Pfd2LBAM.PF.I CA1125854507 $25.36$25.88$16.625yr min 4.8% + 3.85%04.73% $1.2000Brookfield_Asset_Management_Inc._4.80%,_Series_46
Pfd2LBAM.PF.J CA1125854275 $25.34$25.52$16.525yr min 4.75% + 3.10%04.69% $1.1880Brookfield_Asset_Management_Inc._4.75%,_Series_48
Pfd2HCU-I CU.PR.I CA1367176262 $26.02$26.25$17.035yr min 4.5% + 3.69%04.32% $1.1250Canadian_Utilities_Ltd._4.50%,_Series_FF