Compare Preferred Shares Of The Canadian Banks

Using these tables you can compare all the preferred shares issued by the Canadian Banks.  We have included all of the big five (Royal Bank, CIBC, BNS, BMO, TD) and a couple of the smaller ones (Canadian Western Bank, Laurentian Bank).  All types of preferred’s are included (perpetual, fixed, floating) in one table. 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 Bank Preferred Shares Process

Each investor has a unique selection process. Consequently the same metric is viewed differently. That is to say, the weight assigned to the metric differs for each investor, thus resulting in a dissimilar selection.

  1. Some investors, looking for high yield over the next 5 years, will put more emphasis on the “Blended Yield” metric. As a result, the issue with the most dividend over the next 5 years is selected.
  2. More weight should be given to the “Credit Rating” metric, if you are looking for the highest credit worthy issues. That is to say, sacrificing some yield for security, is a good fit for the long term and “buy and hold” investors.
  3. Good value is indicated by the metric “Rate Increase Percent”.  This also highlights the stocks with the most room for capital gains, if rates start going up. A value investor may find this appealing.

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.

 

Two tables are provided here. Review both, since the information provided contributes to the selection process.

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 Preferred Shares Of The Canadian Banks

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


  1. Reset Date. The date of the upcoming reset for this issue. During the reset the new dividend will be determined by the issuer as outlined in the prospectus.
  2. Reset (Yield | Dividend).
  3. Blended (Yield | Dividend).
  4. Rate Change Percent.
  5. Rate Change To Value. This reflects the effect or the current price on the issue rate of the preferred. Here you see the percent increase/decrease of the new rate due to its drop or rise of its share value
  6. New Spread Change.
  7. New Spread Value.
  8. Short Position.
  9. Additional Features. A set of codes for additional features of the preferred share
  10. Years To Double Initial Investment.
  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 2023-Feb-03 07:21, Model Metrics 2023-Feb-06 19:31
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
Pfd2HRY-N RY.PR.N CA78013J4550 $23.10$26.08$19.31PERPETUAL @ 4.90%05.32% $1.2300Royal Bank of Canada 4.90%, Series BH - NVC
Pfd2HRY-O RY.PR.O CA78013K6016 $23.28$25.94$19.25PERPETUAL @ 4.90%05.28% $1.2300Royal_Bank_of_Canada_4.90%,_Series_BI_-_NVC
Pfd3FN-A FN.PR.A CA33564P2026 $11.35$14.75$10.555YR + 2.07%06.38% $0.723750First_National_Financial_Corp._2.79%,_Series_1
Pfd3LB-H LB.PR.H CA51925D8254 $16.90$22.75$15.525YR + 2.55%06.10% $1.0308Preferred_Shares_Series_13
NREQB-C EQB.PR.C CA2945056075 $23.86$25.84$21.725YR + 4.78%06.24% $1.4900EQUITABLE_GROUP_5.969%_Ser_3
Pfd3CWB-B CWB.PR.B CA1367655000 $18.21$24.60$16.625YR + 2.76%05.89% $1.0720Canadian_Western_Bank_4.40%.,_Series_5_-_NVCC
Pfd2LNA-C NA.PR.C CA6330672289 $25.76$26.16$24.155YR + 3.43%06.82% $1.7568National_bank_SRS_38
Pfd3CWB-D CWB.PR.D CA1367658806 $24.96$26.80$24.015YR + 4.04%06.01% $1.5000Non-Cumulative_5-Year_Rate_Reset_First_Preferred_Shares_Series_9
Pfd2LNA-S NA.PR.S CA6330673196 $18.61#N/A#N/A5YR + 2.40%05.41% $1.0062National_bank_SRS_30_
Pfd2TD.PF.B CA8911456744 $17.93$24.05$17.015YR + 2.27%05.13% $0.9202Toronto-Dominion_Bank_3.80%,_Series_3_-_NVC
Pfd2LNA-W NA.PR.W CA6330672859 $17.52$24.20$16.265YR + 2.25%05.48% $0.9596National_bank_SRS_33
Pfd2HBMO-S BMO.PR.S CA0636794012 $18.57$24.25$17.505YR + 2.33%05.19% $0.9630Bank_of_Montreal_4.00%,_Series_27_-_
Pfd2CM-P CM.PR.P CA1360694246 $17.92$24.30$16.815YR + 2.24%05.45% $0.9772Canadian_Imperial_Bank_of_Commerce_3.75%,_Series_41_-_NVCC
Pfd2TD.PF.C CA8911456587 $17.90$24.11$16.845YR + 2.25%05.41% $0.9692Toronto-Dominion_Bank_3.75%,_Series_5_-_NVC
Pfd2LNA-E NA.PR.E CA6330671943 $20.82$25.10$18.655YR + 2.58%05.52% $1.1500National_bank_SRS_40
Pfd2TD.PF.K CA8911605902 $20.80$25.25$19.805YR + 2.59%05.72% $1.1900Toronto-Dominion_Bank_4.75%,_Series_20_-_NVC
Pfd2CM-S CM.PR.S CA1360708772 $22.71$25.00$20.115YR + 2.45%06.47% $1.4695Canadian_Imperial_Bank_of_Commerce_4.50%,_Series_47_-_NVCC
Pfd2HBMO-T BMO.PR.T CA0636796090 $17.89$24.05$16.765YR + 2.24%05.06% $0.9060Bank_of_Montreal_3.90%,_Series_29
Pfd2TD.PF.A CA8911456900 $17.97$24.10$16.945YR + 2.24%05.10% $0.9156Toronto-Dominion_Bank_3.90%,_Series_1_-_NVCC_
Pfd2CM-O CM.PR.O CA1360694402 $18.54$24.40$24.405YR + 2.32%05.01% $0.9283Canadian_Imperial_Bank_of_Commerce_3.90%,_Series_39_-_NVCC
Pfd2HRY-Z RY.PR.Z CA78012G4117 $18.25$24.05$17.005YR + 2.21%05.07% $0.9250Royal_Bank_of_Canada_4.00%,_Series_AZ_-_NVCC_
Pfd2HBMO-W BMO.PR.W CA0636798807 $18.01$24.09$17.115YR + 2.22%05.35% $0.9628Bank_of_Montreal_3.80%,_Series_31_-_NVC
Pfd2HBMO-E BMO.PR.E CA06368B2075 $21.31$25.75$20.185YR + 2.68%05.68% $1.2100Bank_of_Montreal_4.85%,_Series_44_-_NVC
Pfd2LNA-G NA.PR.G CA63306A2056 $21.70$25.77$20.115YR + 2.77%05.70% $1.2372National_bank_SRS_42
Pfd2HRY-H RY.PR.H CA78012H5675 $18.31$24.10$17.055YR + 2.26%04.98% $0.9125Royal_Bank_of_Canada_3.90%,_Series_BB_-_NVCC_
Pfd2CM-Y CM.PR.Y CA13607G7993 $24.25$26.89$23.655YR + 3.62%05.31% $1.2872Canadian_Imperial_Bank_of_Commerce_5.15%,_Series_51_-_NVCC
Pfd2CM-T CM.PR.T CA1360707949 $23.83$26.59$22.725YR + 3.31%05.46% $1.3000Canadian_Imperial_Bank_of_Commerce__5.20%_Non-cumulative_Rate_Reset_Class_A_Preferred_Shares_Series_49
Pfd2TD.PF.I CA8911606405 $25.07$25.64$23.805YR + 3.01%06.28% $1.5753Toronto-Dominion_Bank_4.50%,_Series_16_-_NVCC
Pfd2HRY-S RY.PR.S CA78013R3909 $20.73$25.49$19.555YR + 2.38%05.79% $1.2000Royal_Bank_of_Canada_4.80%,_Series_BO_-_NVCC_
Pfd2TD.PF.L CA8911605746 $23.85$26.50$22.805YR + 3.27%05.45% $1.3000Toronto-Dominion_Bank_5.2%,_Series_22_-_NVcC
Pfd2HBMO-F BMO.PR.F CA06368B1085 $24.29$26.54$23.025YR + 3.51%05.24% $1.2740Bank_of_Montreal_5.10%,_Series_46_-_NVCCBMO
Pfd2TD.PF.M CA8911605415 $24.44$26.65$23.515YR + 3.56%05.22% $1.2750Toronto-Dominion_Bank_5.10%,_Series_24_-_NVC
Pfd2TD.PF.J CA8911606249 $22.48$25.69$20.695YR + 2.70%05.25% $1.1800Toronto-Dominion_Bank_4.70%,_Series_18_-_NVC
Pfd2HBNS-I BNS.PR.I CA06415E3032 $21.26$25.90$19.845YR + 2.43%05.69% $1.2100Bank_of_Nova_Scotia_4.85%,_Series_40_-_NVCCBNS
Pfd2TD.PF.D CA8911456330 $19.62$24.70$18.665YR + 2.79%04.08% $0.8003Toronto-Dominion_Bank_3.60%,_Series_7_-_NVC
Pfd2HRY-J RY.PR.J CA78012Q1129 $19.66$24.85$18.205YR + 2.74%04.07% $0.8000Royal_Bank_of_Canada_3.60%,_Series_BD_-_NVCC_
Pfd2CM-Q CM.PR.Q CA1360693909 $19.70$24.50$18.295YR + 2.79%03.99% $0.7858Canadian_Imperial_Bank_of_Commerce_3.60%,_Series_43_-_NVCC
Pfd2TD.PF.E CA8911456173 $19.99$24.91$18.955YR + 2.87%04.05% $0.8105Toronto-Dominion_Bank_3.70%,_Series_9_-_NVC
Pfd2HBMO-Y BMO.PR.Y CA06367X2005 $19.61$24.73$17.775YR + 2.71%03.89% $0.7635Bank_of_Montreal_3.80%,_Series_33
Pfd2HRY-M RY.PR.M CA78012T4708 $18.85$24.35$17.555YR + 2.62%03.98% $0.7500Royal_Bank_of_Canada_3.60%,_Series_BF_-_NVCC_
 
 

Here is a Limited Version of the Premium - Compare Tool.

A limited number of rows is included with the full metrics. This is a sample only. See link at footer for information on subscription to the premium version


Last Updated: Market Data 2023-Feb-03 07:21, Model Metrics 2023-Feb-06 19:31
Credit RatingSymbolPrice52W High52W Low
Fixed Rate Baseyield and dividend for the current issue based on last night’s closing stock price
Current (Yield Dividend)
Reset (Yield Dividend)yield and dividend for the current issue after the upcoming reset
Blended (Yield Dividend)follow link passed the end of the table to see definition
Yield To CallReset Date Y/M/DRate Change percentRate Change to valueNew Spread valueShort PositionAdditional FeaturesYears To Double Initial InvestmentP/E RatioMarket Cap In BillionsP/B RatioCommon Stock YieldProjected Common Stock YieldOutstanding FloatName
Pfd2HRY-N RY.PR.N CA78013J4550 $23.10$26.08$19.31PERPETUAL @ 4.90%05.32% $1.2300N/A05.32% $1.23007.74%perpetual008%5.30%N/A33,502 Non-Cumulative NVCC13.3712.49143 B2.513.13%0.00%6,000,000Royal Bank of Canada 4.90%, Series BH - NVC
Pfd2HRY-O RY.PR.O CA78013K6016 $23.28$25.94$19.25PERPETUAL @ 4.90%05.28% $1.2300N/A05.28% $1.23007.47%perpetual007%5.26%N/A33,030 Non-Cumulative NVCC13.4612.49143 B2.513.13%0.00%6,000,000Royal_Bank_of_Canada_4.90%,_Series_BI_-_NVC


 
 

Reset Scenarios Based on Various G.O.C. 5 Year Bond Yield Rates

The following table presents 6 scenarios, of the issues resetting based on different 5 Year Bond rates. Each scenario consists of 3 columns and grouped by color. The rates assumed for the reset are as follows:
  • Scenario 1: 5YR GOC Rate is set at 2.50%
  • Scenario 2: 5YR GOC Rate is set at 3.0%
  • Scenario 3: 5YR GOC Rate is set at 3.50%
  • Scenario 4: 5YR GOC Rate is set at 4.00%
  • Scenario 5: 5YR GOC Rate is set at 4.5%
  • Scenario 6: 5YR GOC Rate is set at 5.0%

Note: Only the first 3 "What if scenarios" of the total 6 are available on the Free Site. All 6 scenarios can be viewed in the premium site


For more information please review our video and/or post. Links available at the bottom of the page


Rank Preferreds - Compare Reset Scenarios

Last Updated: Market Data 2023-Feb-03 07:21, Model Metrics 2023-Feb-06 19:31
Credit RatingSymbolReset Date Y/M/DCurrent (Yield Dividend)
5Yr @ 2.50%. Reset (Yield Dividend)Scenario: 1 yield and dividend based on GOC 5yr Rate of 5Yr @ 2.50%.
5Yr @ 2.50%. Blended (Yield Dividend)5Yr @ 2.50%. Rate Change (percent | to value )
5Yr @ 3.0%. Reset (Yield Dividend)Scenario: 2 yield and dividend based on GOC 5yr Rate of 5Yr @ 3.0%.
5Yr @ 3.0%. Blended (Yield Dividend)5Yr @ 3.0%. Rate Change (percent | to value )
5Yr @ 3.50%. Reset (Yield Dividend)Scenario: 3 yield and dividend based on GOC 5yr Rate of 5Yr @ 3.50%.
5Yr @ 3.50%. Blended (Yield Dividend)5Yr @ 3.50%. Rate Change (percent | to value )
Pfd3FN-A FN.PR.A CA33564P2026 2026MAR3106.38% $0.72375010.10% $1.1407.66% $0.86121% 10.10%11.20% $1.2708.06% $0.91121% 11.20%12.30% $1.3908.43% $0.95121% 12.30%
Pfd3LB-H LB.PR.H CA51925D8254 2024JUN1506.10% $1.03087.47% $1.2607.04% $1.19047% 7.47%8.21% $1.3907.58% $1.28047% 8.21%8.95% $1.5108.08% $1.36047% 8.95%
NREQB-C EQB.PR.C CA2945056075 2024SEP3006.24% $1.49007.63% $1.8207.14% $1.70004% 7.63%8.15% $1.9507.49% $1.78004% 8.15%8.68% $2.0707.82% $1.86004% 8.68%
Pfd3CWB-B CWB.PR.B CA1367655000 2024APR3005.89% $1.07207.22% $1.3206.90% $1.25037% 7.22%7.91% $1.4407.40% $1.34037% 7.91%8.59% $1.5707.93% $1.44037% 8.59%
Pfd2LNA-C NA.PR.C CA6330672289 2027NOV1506.82% $1.75685.76% $1.4806.81% $1.75-2% 5.76%6.24% $1.6106.81% $1.75-2% 6.24%6.73% $1.7306.81% $1.75-2% 6.73%
Pfd3CWB-D CWB.PR.D CA1367658806 2024APR3006.01% $1.50006.55% $1.6406.43% $1.60000% 6.55%7.05% $1.7606.79% $1.69000% 7.05%7.55% $1.8907.18% $1.79000% 7.55%
Pfd2LNA-S NA.PR.S CA6330673196 2024MAY1505.41% $1.00626.58% $1.2306.24% $1.16034% 6.58%7.25% $1.3506.69% $1.24034% 7.25%7.93% $1.4807.18% $1.33034% 7.93%
Pfd2TD.PF.B CA8911456744 2024JUL3105.13% $0.92026.65% $1.1906.18% $1.10039% 6.65%7.35% $1.3206.69% $1.20039% 7.35%8.05% $1.4407.16% $1.28039% 8.05%
Pfd2LNA-W NA.PR.W CA6330672859 2025FEB1505.48% $0.95966.78% $1.1906.20% $1.08042% 6.78%7.49% $1.3106.57% $1.15042% 7.49%8.20% $1.4406.98% $1.22042% 8.20%
Pfd2HBMO-S BMO.PR.S CA0636794012 2024MAY2505.19% $0.96306.50% $1.2106.11% $1.13034% 6.50%7.18% $1.3306.56% $1.21034% 7.18%7.85% $1.4607.05% $1.31034% 7.85%
Pfd2CM-P CM.PR.P CA1360694246 2025JAN3105.45% $0.97726.61% $1.1906.16% $1.10039% 6.61%7.31% $1.3106.56% $1.17039% 7.31%8.01% $1.4407.00% $1.25039% 8.01%
Pfd2TD.PF.C CA8911456587 2025JAN3105.41% $0.96926.63% $1.1906.15% $1.10039% 6.63%7.33% $1.3106.55% $1.17039% 7.33%8.03% $1.4406.99% $1.25039% 8.03%
Pfd2LNA-E NA.PR.E CA6330671943 2023MAY1505.52% $1.15006.10% $1.2706.04% $1.25020% 6.10%6.70% $1.4006.60% $1.37020% 6.70%7.30% $1.5207.12% $1.48020% 7.30%
Pfd2TD.PF.K CA8911605902 2023OCT3105.72% $1.19006.12% $1.2706.04% $1.25020% 6.12%6.72% $1.4006.57% $1.36020% 6.72%7.32% $1.5207.06% $1.47020% 7.32%
Pfd2CM-S CM.PR.S CA1360708772 2028JAN3106.47% $1.46955.45% $1.2406.47% $1.46010% 5.45%6.00% $1.3606.47% $1.46010% 6.00%6.55% $1.4906.47% $1.46010% 6.55%
Pfd2HBMO-T BMO.PR.T CA0636796090 2024AUG2505.06% $0.90606.62% $1.1906.09% $1.09039% 6.62%7.32% $1.3106.53% $1.16039% 7.32%8.02% $1.4407.00% $1.25039% 8.02%
Pfd2TD.PF.A CA8911456900 2024OCT3105.10% $0.91566.59% $1.1906.08% $1.09039% 6.59%7.29% $1.3106.52% $1.17039% 7.29%7.99% $1.4406.99% $1.25039% 7.99%
Pfd2CM-O CM.PR.O CA1360694402 2024JUL3105.01% $0.92836.50% $1.2106.07% $1.12034% 6.50%7.17% $1.3306.52% $1.20034% 7.17%7.85% $1.4607.01% $1.30034% 7.85%
Pfd2HRY-Z RY.PR.Z CA78012G4117 2024MAY2405.07% $0.92506.45% $1.1806.04% $1.10036% 6.45%7.14% $1.3006.50% $1.18037% 7.14%7.82% $1.4307.00% $1.27037% 7.82%
Pfd2HBMO-W BMO.PR.W CA0636798807 2024NOV2505.35% $0.96286.55% $1.1806.06% $1.09038% 6.55%7.25% $1.3106.50% $1.17038% 7.25%7.94% $1.4306.90% $1.24038% 7.94%
Pfd2HBMO-E BMO.PR.E CA06368B2075 2023NOV2505.68% $1.21006.08% $1.3006.01% $1.28017% 6.08%6.66% $1.4206.46% $1.37017% 6.66%7.25% $1.5506.95% $1.48017% 7.25%
Pfd2LNA-G NA.PR.G CA63306A2056 2023NOV1505.70% $1.23726.07% $1.3206.00% $1.30015% 6.07%6.65% $1.4406.44% $1.39015% 6.65%7.22% $1.5706.92% $1.50015% 7.22%
Pfd2HRY-H RY.PR.H CA78012H5675 2024AUG2404.98% $0.91256.50% $1.1905.96% $1.09036% 6.50%7.18% $1.3206.43% $1.17036% 7.18%7.86% $1.4406.85% $1.25036% 7.86%
Pfd2CM-Y CM.PR.Y CA13607G7993 2024JUL3105.31% $1.28726.31% $1.5306.00% $1.45003% 6.31%6.82% $1.6606.38% $1.54003% 6.82%7.34% $1.7806.73% $1.63003% 7.34%
Pfd2CM-T CM.PR.T CA1360707949 2024APR3005.46% $1.30006.10% $1.4505.92% $1.41004% 6.10%6.62% $1.5806.33% $1.51004% 6.62%7.14% $1.7006.71% $1.6 004% 7.14%
Pfd2TD.PF.I CA8911606405 2027OCT3106.28% $1.57535.49% $1.3806.24% $1.56-0% 5.49%5.99% $1.5006.26% $1.57-0% 5.99%6.49% $1.6306.29% $1.57-0% 6.49%
Pfd2HRY-S RY.PR.S CA78013R3909 2024FEB2405.79% $1.20005.89% $1.2205.86% $1.21020% 5.89%6.49% $1.3506.33% $1.31020% 6.49%7.09% $1.4706.76% $1.40020% 7.09%
Pfd2TD.PF.L CA8911605746 2024APR3005.45% $1.30006.05% $1.4405.89% $1.40004% 6.05%6.57% $1.5706.29% $1.50004% 6.57%7.10% $1.6906.67% $1.59004% 7.10%
Pfd2HBMO-F BMO.PR.F CA06368B1085 2024MAY2505.24% $1.27406.19% $1.5005.89% $1.43003% 6.19%6.70% $1.6306.27% $1.52002% 6.70%7.21% $1.7506.61% $1.60002% 7.21%
Pfd2TD.PF.M CA8911605415 2024JUL3105.22% $1.27506.20% $1.5205.91% $1.44002% 6.20%6.71% $1.6406.26% $1.53002% 6.71%7.22% $1.7706.63% $1.62002% 7.22%
Pfd2TD.PF.J CA8911606249 2023APR3005.25% $1.18005.78% $1.3 05.75% $1.29011% 5.78%6.34% $1.4306.30% $1.41011% 6.34%6.90% $1.5506.81% $1.53011% 6.90%
Pfd2HBNS-I BNS.PR.I CA06415E3032 2024JAN2705.69% $1.21005.80% $1.2305.76% $1.22017% 5.80%6.39% $1.3606.25% $1.33017% 6.39%6.97% $1.4806.70% $1.42017% 6.97%
Pfd2TD.PF.D CA8911456330 2025JUL3104.08% $0.80036.74% $1.3205.40% $1.06027% 6.74%7.38% $1.4505.73% $1.12027% 7.38%8.01% $1.5706.04% $1.18027% 8.01%
Pfd2HRY-J RY.PR.J CA78012Q1129 2025MAY2404.07% $0.80006.66% $1.3105.36% $1.05027% 6.66%7.30% $1.4405.69% $1.11027% 7.30%7.93% $1.5606.00% $1.18027% 7.93%
Pfd2CM-Q CM.PR.Q CA1360693909 2025JUL3103.99% $0.78586.71% $1.3205.34% $1.05026% 6.71%7.35% $1.4505.67% $1.11026% 7.35%7.98% $1.5705.97% $1.17026% 7.98%
Pfd2TD.PF.E CA8911456173 2025OCT3104.05% $0.81056.72% $1.3405.24% $1.04025% 6.72%7.34% $1.4705.53% $1.10025% 7.34%7.97% $1.5905.80% $1.16025% 7.97%
Pfd2HBMO-Y BMO.PR.Y CA06367X2005 2025AUG2503.89% $0.76356.64% $1.3005.12% $1.00027% 6.64%7.28% $1.4305.42% $1.06027% 7.28%7.92% $1.5505.69% $1.11027% 7.92%
Pfd2HRY-M RY.PR.M CA78012T4708 2025NOV2403.98% $0.75006.79% $1.2805.10% $0.96032% 6.79%7.45% $1.4105.37% $1.01032% 7.45%8.12% $1.5305.63% $1.06032% 8.12%