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:
- 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.
- 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
- 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.
- 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;
- 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.
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: 2024MAR31 , 2024JUN30 , 2024SEP30 , 2024DEC30 Ex Dividend Date Schedule: 2024MAR03 , 2024JUN12 , 2024SEP14 , 2024DEC14
Top 10 Split Trust Preferred share Credit Ratings
The latest preferred share credit ratings 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.
| A.M. Best | FITCH | S&P | DBRS | S&P Global | Moody's |
|---|
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
NOTE: Dividend dates are not fixed. The dates shown here are estimated and most likely a few days off. Do not make trades based on these dates. Always check with the issuer for the correct dates.
The following metrics are now only available on the premium version of this tool:
- Reset Date.
- 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.
- Blended (Yield | Dividend).
- Rate Change Percent.
- Rate Change To Value.
- New Spread Change. 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
- New Spread Value.
- Short Position.
- Additional Features.
- Years To Double Initial Investment. How many years will it take for the initial investment to double.
- Outstanding float.
- Market Cap In Bilions.
- Common Stock P/E Ratio.
- Common Stock P/B Ratio.
- Common Stock Yield.
| Symbol | Price | 52W High | 52W 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 | $11.16 | $11.60 | $10.57 | SPLIT SHARE + 6.25% | 07.17% $0.8000 | Top_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
- The yield has an inverse relationshlp to the share price. As the share price rises towards face value the yield gets lower.
- 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 393. Thus the current short position is 0.0600% of the outstanding float.