Canadian Preferened Shares



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Preferred Shares are an investment alternative to common stock and bonds.

They are best described as laying somewhere in between the two. They are essentially Canadian exchange traded debt that can be issued and recalled by Canadian Corporations to fund their various corporate activities. In the event of bankruptcy or the issuance of a dividend, preferred shares get their money before owners of common shares. Ie. If a company goes bankrupt, preferreds stock holders get any liquidation money before common share holders, but AFTER the holders of bonds. Hence you have our description of preferred shares laying somewhere in between common stock and bonds.

Preferred shares have a set dividend rate and a set rate and date on which the shares can be bought back and for how much. Often preferred stocks are convertible to common stocks at a rate defined at the time of issuance.

Preferred Shares carry a few risks that are generally considered to be as follows: 1) risk of default. Ie. the company that issued the shares goes bankrupt; 2) Inflation risk: since the shares have a set coupon rate and a set buyback price, any inflation that occurs goes against the yield.

Canadian Advantages: Talk to your accountant about this, but in Canada stock dividends are taxed MUCH more favorably than capital gains such as bank account or GIC interest or capital gains on stocks. So, a preferred share with a 7% yield can be often considered a very attractive investment in Canada.

 

Preferred Shares Articles

Types of Preferred Shares in Canada

Are the shares callable (redeemable preferred stock)? Convertible? There are several other factors which you should consider. Be sure to read our disclaimers

List of Canadian Preferred Stocks.

Below is a list we have compiled of all preferred shares on the Toronto Stock Exchange. We will be writing articles that encompass many of them in the near future. Some companies have multiple series of Preferreds and these may have different terms attached to them. Be sure to do your own due diligence when selecting a preferred to invest in.

Preferred Share Company  Name Stock Symbol  Yield (approx) at par   Buyback Price Notes
as of: Oct 14, 2010
Allbanc Split Corporation  ABK-B 
Groupe Aeroplan  AER-A  6.5% $25
AltaGas Ltd.  ALA-A  5% $25 Resets 2015 at govt bond + 2.66%
Allbanc Split Corporation II  ALB-A 
AIC Global Financial Split  ASC-A 
Brookfield Asset Management  BAM-B 
BAM-C 
BAM-E 
BAM-G 
BAM-H 
BAM-I 
BAM-J 
BAM-K 
BAM-L 
BAM-M 
BAM-N 
BAM-O 
BAM-P 
BAM-R 
Bombardier Incorporated  BBD-B  80% of prime rate 25.50 perpetual, non-voting, cumulative
BBD-C  6.25 % $25
BBD-D  complicated
Big Bank Big Oil Split Corporation  BBO-A 
BCE Incorporated  BCE 
BCE-A  4.85 25 AA class
BCE-B  floating 25.50 AB class
BCE-C  4.6% 25 AC
BCE-D  floating 25.50 AD
BCE-E  floating AE
BCE-F  4.4% 25 AF
BCE-G  4.35% 25 AG
BCE-H  floating 25.50 AH
BCE-I  4.65% 25 AI - BCE-J not issued yet
BCE-R  4.54% 25
BCE-S  25.50 floating rate as of nov 1, 2010
BCE-Y  25.50 floating
BCE-Z  4.331% 25
Brompton Equity Split  BE-A 
Big 8 Split  BIG-B  invests in big banks and insurers
BIG-C 
Canadian Banc Recovery  BK-A 
Bank of Montreal  BMO-H 
BMO-J 
BMO-K 
BMO-L 
BMO-M 
BMO-N 
BMO-O 
BMO-P 
BMO-V $USD
BAM Split Corporation  BNA-B  real estate
BNA-C 
BNA-D 
Bank of Nova Scotia  BNS 
BNS-J 
BNS-K 
BNS-L 
BNS-M 
BNS-N 
BNS-O 
BNS-P 
BNS-Q 
BNS-R 
BNS-S 
BNS-X 
BNS-Y 
Brookfield Properties  BPO-F 
BPO-H 
BPO-I 
BPO-J 
BPO-K 
BPO-L  6%
BPO-N 
BPO-U $USD
BPO Properties  BPP-G 
BPP-J 
BPP-M 
Brookfield Renew Power Pref Eq  BRF-A  $1.21
Brookfield Investments  BRN-A 
BNS Split Corporation II  BSC-B  mutual fund
Brookfield Soundvest Split  BSD-A 
First Asset CanBanc Split  CBU-A 
Copernican World Banks Split  CBW-A 
Co-operators General Insurance  CCS-C 
CCS-D 
Cdn Financials and Utilities  CFS-A 
Canadian General Investments  CGI-B 
CGI-C 
Copernican Intl Financial  CIR-A 
CU Incorporated  CIU-A  4.6% at par $25 Subsidiary of Canadian Utilities (CU)
CIU-B  6.7% at par $25 Subsidiary of Canadian Utilities (CU)
Canada Life Financial  CL-B 
CIBC  CM-A 
CM-D 
CM-E 
CM-G 
CM-H 
CM-I 
CM-J 
CM-K 
CM-L 
CM-M 
CM-P 
CM-R 
Canadian Utilities  CU-A  5.8% at par $25
CU-B  6% at par $25
Canadian Western Bank  CWB-A 
CIX Split Corporation  CXC-A  financial income fund
CPI Preferred Equity  CZP-A 
CZP-B 
Dundee Corporation  DC-A 
DC-B 
Dividend 15 Split Corporation II  DF-A  15 companies. mostly banks
DFN-A 
Dividend Growth Split Corporation  DGS-A 
Dominion Citrus Ltd.  DMN-A  ------- non fin
DundeeWealth Incorporated  DW-A 
E-L Financial Corporation  ELF-F 
ELF-G 
Emera Incorporated  EMA-A  ------ energy services
Empire Company  EMP-B  ------ food services
Energy Split Corporation II  EN-A  ------ ? same as below
Enbridge Incorporated  ENB-A  5.5% 25
Energy Split Corporation  ES-B  ------ oil and gas mutual fund comp
Equitable Group  ETC-A  mortgages
5Banc Split  FBS-B 
Faircourt Split Trust  FCS-A 
Fairfax Financial Holdings  FFH-C 
FFH-E 
FFH-G 
Financial 15 Split Corporation II  FFN-A 
Faircourt Income and Growth  FIG-A  diversified
Financial Preferred Securities  FPR-A 
FirstService Corporation  FSV-U $USD
Financial 15 Split Corporation  FTN-A 
Fortis Incorporated  FTS-C  $1.36 25
FTS-E  $1.23
FTS-F  $1.225 25
FTS-G  $1.31
FTS-H  4.25% 25
US Financial 15 Split Corporation  FTU-A 
GlobalBanc Advantaged 8 Split  GBA-A 
Global 45 Split Corporation  GFV-A 
Great-West Life Assurance  GWL-O 
Great-West Lifeco  GWO-F 
GWO-G 
GWO-H 
GWO-I 
GWO-J 
GWO-L 
GWO-M 
HSBC Bank Canada  HSB-C 
HSB-D 
HSB-E 
Industrial Alliance Ins and Fin  IAG-A 
IAG-C 
IAG-E 
IAG-F 
IGM Financial  IGM-B 
Innergex Renewable Energy  INE-A  5% 25
Loblaw Companies  L-A  6.05% 25
Laurentian Bank of Canada  LB-D 
LB-E 
Life and Banc Split Corporation  LBS-A 
Brompton Lifeco Split  LCS-A 
Canadian Life Companies Split  LFE-A 
Lifeco Split Corp  LSC-C 
Manulife Financial  MFC-A 
MFC-B 
MFC-C 
MFC-D 
MFC-E 
MCM Split Share  MUH-A 
National Bank of Canada  NA-K 
NA-L 
NA-M 
NA-N 
NA-O 
NA-P 
NewGrowth Corporation  NEW-C  mutual fund corp
Northland Power  NPP-A 
Nova Scotia Power  NSI-D 
Nortel Networks Ltd.  NTL-F 
NTL-G 
Prime Dividend Corporation  PDV-A 
Premium Income  PIC-A 
Pacific Northern Gas  PNG-A  6.75%
Power Corp of Canada  POW-A  5.6% 25 FINANCIAL holding company
POW-B  5.35% 25
POW-C  5.80% 25.25
POW-D  5.00% 26
POW-E  --
POW-F  70% of prime 50.00
Pacific and Western Credit  PWC-A 
PWC-B 
Power Financial Corporation  PWF-A 
PWF-D 
PWF-E 
PWF-F 
PWF-G 
PWF-H 
PWF-I 
PWF-K 
PWF-L 
PWF-M 
PWF-O 
PWF-P 
R Split III Corporation  RBS-A 
C.A. Bancorp Canadian Realty  RF-A 
Royal Bank of Canada  RY 
RY-A 
RY-B 
RY-C 
RY-D 
RY-E 
RY-F 
RY-G 
RY-H 
RY-I 
RY-L 
RY-N 
RY-P 
RY-R 
RY-W 
RY-X 
RY-Y 
Brompton Split Banc  SBC-A 
S Split Corporation  SBN-A 
Sun Life Financial Incorporated  SLF-A 
SLF-B 
SLF-C 
SLF-D 
SLF-E 
SLF-F 
SLF-G 
SL Split Corporation  SLS-A 
SNP Split Corporation  SNP-V $USD
Split REIT Opportunity Trust  SOT-A 
Sixty Split Corp  SXT-A 
TransCanada Pipelines  TCA-X  5.6% 50
TCA-Y  ? 5.6 ? 50
Transcontinental Incorporated  TCL-D  6.75% 25? Publishing company
TD Bank  TD-A 
TD-C 
TD-E 
TD-G 
TD-I 
TD-K 
TD-M 
TD-N 
TD-O 
TD-P 
TD-Q 
TD-R 
TD-S 
TD Split Inc  TDS-B 
TD Bank  TD-Y 
Thomson Reuters  TRI-B  unsure ? Media company
TransCanada Corporation  TRP-A  pipelines
TRP-B 
TRP-C 
Top 10 Split Trust  TXT-A 
United Corps.  UNC-A  investment company
UNC-B 
UNC-C 
Union Gas  UNG-C  5.5% 50
UNG-D  6% 50
Utility Split Trust  UST-A  6% 10
Western Financial Group  WES-A 
WES-B 
WES-C 
WES-D 
World Financial Split Corp  WFS-A 
Westcoast Energy  W-H  5.5%
W-J  5.6%
George Weston Ltd.  WN-A  5.8% 25
WN-C  5.2% 25
WN-D  5.2% 25
WN-E  /
M Split Corporation  XMF-B 
XMF-C 
Commerce Split Corporation  YCM-A 
YCM-B 
YCMWTA 
YCM-X 
Split Yield Corp  YLD-A 
YLD-B 
Yellow Media Incorporated  YPG-A  4.3% 25?
YPG-B  $1.24
YPG-C 
YPG-D 
Zarlink Semiconductor  ZL-A  25?

Name, Ticker, Call/Buyback price, Sector, Chart/current price. (redemption price).