https://canadianpreferredshares.ca/rank-top-10-split-trust-preferreds/


Rank Top 10 Split Trust Preferreds

This compare tool allows you to Rank Top 10 Split Trust Preferreds, based on the latest stock information available. Our goal is to provide you with the information and metrics related to the Top 10 Split Trust preferreds. Your goal is to establish which preferred will provide you the best returns. If you are buying today, these tools will expedite and aid the selection process. Given all the data available here, an informed decision is within reach.

In a market with low volumes you can use this information to identify mispriced shares. Since all preferreds belong to the same issuer, the risk is the same for all of them.

Top 10 Split Trust Brief Overview

Visit the Top 10 Split Trust company website to see the preferred share prospectus, news and other information.

Sector: Split Share
Main Features of this Spit Share Instrument:

  1. The Fund is a split share investment trust designed to provide unitholders with exposure to the six largest Canadian banks and four largest Canadian life insurance companies and utilizes Strathbridge’s proprietary SSO covered call writing strategy to enhance the income generated by the portfolio and to reduce volatility.
  2. Preferred Shares: to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions in the amount of $0.13125 per Preferred share representing a yield on the issue price of the Preferred shares of 5.25% per annum
  3. Preferred Shares: to pay holders of Preferred Securities fixed quarterly cash interest payments equal to 6.25% per annum on the $12.50 principal amount of a Preferred Security; and (ii) to repay the principal amount of $12.50 per Preferred Security on the maturity date.
  4. Class A Shares: to provide holders of Capital Units, upon redemption, with the benefit of any capital appreciation in the market price of the securities in the Fund’s portfolio; and (ii) to pay quarterly distributions to holders of Capital Units in an amount targeted to be 7.5% per annum of the NAV per Capital Unit;
  5. to return the issue price to holders of both Preferred Shares and Class A Shares at the time of redemption of such shares on the termination date.
NOTE: THIS IS A SPLIT SHARE INSTRUMENT BY "Strathbridge Asset Managment"

These securities represent the top ten financial service companies in Canada and provide diversified exposure to the sector. The Preferred Securities are appropriate for an investor looking for a more secure investment than common equities with a high level of income. The Capital Units are appropriate for an investor seeking a leveraged play on the ten financial service companies included in the portfolio while earning tax-efficient distributions.

The latest information and statistics on their common stock TXT.UN, can be easily accessed using websites like TMX Money.

Dividend Payment Schedule: 2022MAR31 , 2021JUN30 , 2021SEP30 , 2021DEC30

Ex Dividend Date Schedule: 2022MAR03 , 2021JUN12 , 2021SEP14 , 2021DEC14

 

Top 10 Split Trust Credit Rating

The latest credit rating for Top 10 Split Trust are listed in the table below. For additional information on credit rating agencies and codes see our article Credit Rating Symbols.

S&P CorporateS&P PreferredsDBRS Long TermDBRS PreferredsS&P Global CorporateS&P Global PreferredsMoody's LongTermFitch Long TermFitch Short Term



 
 

Rank Top 10 Split Trust Preferreds - Compare Tool.

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


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


  1. Reset Date.
  2. Reset (Yield | Dividend).
  3. Blended (Yield | Dividend). A (What If) scenario. It represents the blended yield and dividend for the current issue. It should only be used as a reference. It is not meant to show actual returns for Yield/Dividend. This metric has merit only when applied across all issues being considered.
  4. Rate Change Percent.
  5. Rate Change To Value.
  6. New Spread Change.
  7. New Spread Value. This reflects the effect or the current price on the issue spread of the preferred. It shows the effective new spread of the share due to its drop or rise of its share value
  8. Short Position.
  9. Additional Features.
  10. Years To Double Initial Investment.
  11. Outstanding float. This is the outstanding float for this preferred.
  12. Market Cap In Bilions.
  13. Common Stock P/E Ratio.
  14. Common Stock P/B Ratio.
  15. Common Stock Yield. Current yield of the common. Should be considered if preferred yield is lower.
Last Updated: Market Data Nov-27 09:24, Model Metrics Nov-27 09:58
SymbolPrice52W High52W Low
Fixed Rate Baseyield and dividend for the current issue based on last night’s closing stock price
Current (Yield Dividend)Name
TXT-A TXT.PR.A CA8905201171 $12.73$13.05$11.99SPLIT SHARE + 6.25%06.28% $0.8000Top_10_Split_Trust_6.25%




Current yields over time

The graph below shows the current yield of each Top 10 Split Trust preferred share, over time. Place the mouse cursor over the graph to reveal data like (date, ticker and current Yield).
When viewing the graph below keep in mind the following
  1. The yield has an inverse relationshlp to the share price. As the share price rises towards face value the yield gets lower.
  2. For 5 year resets, at reset time the yield usually makes a substantial move up or down when the reset takes effect.

TXT.PR.A Short Position over time

The graph below shows the short position for TXT.PR.A preferred share over time. Place the mouse cursor over the graph to reveal data like (date, short position detail).

Currently the outstanding float for TXT.PR.A is 605,894 and the latest short position is 348. Thus the current short position is 0.0600% of the outstanding float.