These preferreds have a par value of $25 and pay a monthly floating dividend, currently $0.674 per annum. They are designed to provide a yield on the par value equal to 80% of the Canadian Prime Rate.
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These preferreds will recover when rates rise, but that could be a long way off. If the Bank of Canada cuts its target rate more, which is a possibility if the economy doesn?t strengthen, the price of these shares will drop further. - Gordon Pape
Consult your broker/advisor
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