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 Apr-19 18:00, Model Metrics Apr-19 19:30
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-A ECN.PR.A CA26829L4047 $25.00$25.18$14.215yr min 6.5% + 5.44%06.52% $1.6300ECN_Capital_Corp._6.50%,_Series_A
Pfd3LECN-C ECN.PR.C CA26829L6026 $24.51$24.94$14.195yr min 6.25% + 5.19%06.36% $1.5600ECN_Capital_Corp._6.25%,_Series_C
Pfd3BPO-I BPO.PR.I CA1129005924 $19.73$21.33$13.575yr min 4.85% + 3.23%06.14% $1.2120Brookfield_Office_Properties_Inc._4.85%,_Series_II
Pfd3BPO-G BPO.PR.G CA1129006260 $20.12$21.83$13.805yr min 4.85% + 3.32%06.02% $1.2120Brookfield_Office_Properties_Inc._4.85%,_Series_GG
Pfd3BPO-C BPO.PR.C CA1129006674 $24.94$25.08$17.955yr min 6% + 5.19%06.01% $1.5000Brookfield_Office_Properties_Inc._6.00%,_Series_CC
Pfd3LAX-I AX.PR.I CA04315L8657 $25.23$25.57$17.955yr min 6% + 3.93%05.95% $1.5000Artis_REIT_6.00%,_Series_I
Pfd3LCPX-G CPX.PR.G CA14042M8887 $25.42$25.73$22.115yr min 6% + 5.26%05.90% $1.5000Capital_Power_Corp._6.00%,_Series_7
Pfd3BPO-E BPO.PR.E CA1129006427 $21.65$23.05$14.145yr min 5.1% + 3.96%05.89% $1.2760Brookfield_Office_Properties_Inc._5.10%,_Series_EE
Pfd3LCPX-I CPX.PR.I CA14042M8622 $25.25$25.88$21.085yr min 5.75% + 4.12%05.70% $1.4400Capital_Power_Corp._5.75%,_Series_9
Pfd3PPL-M PPL.PR.M CA7063278559 $25.31$25.80$19.725yr min 5.75% + 4.96%05.69% $1.4400Pembina_Pipeline_Corp_5.75%__PREF_SER_13
Pfd3HBEP-I BEP.PR.I BMG162581653 $25.30$25.68$22.255yr min 5.75% + 5.01%05.68% $1.4360Brookfield_Renewable_Partners_L.P._5.75%,_Series_9
Pfd3HEFN-I EFN.PR.I CA2861816643 $25.35$25.80$19.655yr min 5.75% + 4.64%05.68% $1.4400Element_Financial_Corp._5.75%,_Series_I
NRBIK-A BIK.PR.A CA09075W2094 $25.90$26.50$19.325yr min 5.85% + 3.96%05.65% $1.46250Brookfield_Infrastructure_Partners_L.P._5.85%,_Series_1
Pfd3LCPX-K CPX.PR.K CA14042M8473 $25.61$26.97$21.005yr min 5.75% + 4.15%05.61% $1.4376Capital_Power_Corp._5.75%,_Series_11
Pfd3HBEP-O BEP.PR.O BMG162582156 $25.70$26.80$21.865yr min 5.75% + 3.49%05.59% $1.4375Brookfield_Renewable_Partners_L.P._5.75%,_Series_15
Pfd2LTRP-J TRP.PR.J CA87807B8345 $25.31$25.83$23.435yr min 5.5% + 4.69%05.41% $1.3700TC_Energy_-_Series_13
NRBIP-C BIP.PR.C BMG162521683 $25.22$25.85$20.405yr min 5.35% + 4.64%05.31% $1.34000Brookfield_Infrastructure_Partners_L.P._5.35%,_Series_5
Pfd3HBEP-G BEP.PR.G BMG162581323 $26.09$27.01$21.745yr min 5.5% + 4.47%05.27% $1.3750Brookfield_Renewable_Partners_L.P._5.50%,_Series_7
Pfd3PPL.PF.E PPL.PF.E CA7063277239 $25.26$25.47$16.565yr min 5.2% + 3.51%05.23% $1.3200PPL_Series_25_Shares,_KML_Series_25_min_5.2
NRTSE:BIP-B BIP.PR.B BMG162521436 $26.48$26.74$21.405yr min 5.5% + 4.53%05.19% $1.37500Brookfield_Infrastructure_Partners_L.P._5.50%,_Series_3
Pfd3PPL.PF.C PPL.PF.C CA7063277494 $25.29$25.30$16.835yr min 5.25% + 3.65%05.18% $1.3100PPL_Series_23_Shares
NRBIP-F BIP.PR.F BMG162522269 $24.83$25.19$19.495yr min 5.10% + 2.92%05.16% $1.28000Brookfield_Infrastructure_Partners_L.P._5.10%,_Series_11
Pfd3HW-M W.PR.M CA95751D1289 $25.32$26.12$22.015yr min 5.20% + 4.52%05.13% $1.3000Westcoast_Energy_Inc._5.20%,_Series_12
Pfd3HBEP-M BEP.PR.M BMG162584053 $24.60$25.28$18.965yr min 5.0% + 3.00%05.09% $1.2520Brookfield_Renewable_Partners_L.P._5.00%,_Series_13
Pfd3HENB.PF.I ENB.PF.I CA29250N5358 $25.28$25.61$21.065yr min 5.15% + 4.14%05.06% $1.2800Enbridge_Series_17,_Cumulative_Redeemable_Preference_Shares
NRBIP-E BIP.PR.E BMG162522004 $24.76$25.10$18.505yr min 5.00% + 3.00%05.05% $1.25000Brookfield_Infrastructure_Partners_L.P._5.00%,_Series_9
Pfd3HBEP-K BEP.PR.K BMG162581992 $24.96$25.46$19.005yr min 5.0% + 3.28%05.02% $1.2520Brookfield_Renewable_Partners_L.P._5.00%,_Series_11
NRBIP-D BIP.PR.D BMG162521840 $25.00$25.30$18.885yr min 5.00% + 3.78%05.00% $1.25000Brookfield_Infrastructure_Partners_L.P._5.00%,_Series_7
Pfd3LALA-K ALA.PR.K CA0213618378 $25.21$25.57$18.535yr min 5% + 3.80%04.97% $1.25AltaGas_Ltd._5%_Series_K
Pfd3PPL.PF.A PPL.PF.A CA7063277643 $24.88$24.99$16.165yr min 4.9% + 3.26%04.92% $1.2250Class_A_Preferred_Shares,_Series_21
Pfd3HENB.PF.K ENB.PF.K CA29250N5192 $25.43$25.43$19.725yr min 4.9% + 3.17%04.82% $1.2250Enbridge_Inc._4.90%,_Series_19
Pfd2LTRP-K TRP.PR.K CA87807B8188 $25.49$26.11$22.115yr min 4.9% + 3.85%04.79% $1.2200TC_Energy-series_15
NREMA-H EMA.PR.H CA2908768617 $25.70$26.01$23.095yr min 4.9% + 2.54%04.79% $1.2300Cumulative_Emera_Inc._Min_4.90%,_Series_H
Pfd2LBAM.PF.H CA1125854846 $26.45$26.64$22.965yr min 5% + 4.17%04.73% $1.2500Brookfield_Asset_Management_Inc._5.00%,_Series_44
Pfd2LBAM.PF.J CA1125854275 $25.11$25.52$20.955yr min 4.75% + 3.10%04.73% $1.1880Brookfield_Asset_Management_Inc._4.75%,_Series_48
Pfd2LBAM.PF.I CA1125854507 $25.41$25.75$22.095yr min 4.8% + 3.85%04.72% $1.2000Brookfield_Asset_Management_Inc._4.80%,_Series_46
Pfd2HCU-I CU.PR.I CA1367176262 $26.15$26.48$22.645yr min 4.5% + 3.69%04.30% $1.1250Canadian_Utilities_Ltd._4.50%,_Series_FF