Brookfield Office Properties Inc T.BPO.P.A

Incorrect Yields Displayed??? Anyone Notice That

[CrazyTrader]

Websites are displaying incorrect yields for BPO prefers I believe.   I wonder if Shorts are shorting based off of this info.   

Even the TMX website I think is displaying incorrect yields.

All just my opinion/view/thinking/checking/calculating

[CrazyTrader]

For example, if you check the BPO.P.I  it's displaying 8.85% for yield.  but I think it should be more like 11.81% for share price of $13.46....  I don't know, is my math wrong??? Or are the websites wrong??? All just my opinion/view/thinking/checking/calculating

[pierrelebel]

Your calculations are correct. However, it appears that many sites calculate the yield on preferred based on the dividends paid in the last twelve months instead on the next twelve months. LINK So if there was a substantial dividend increase in the last three or six months (due to reset), it may not be correctly reflected in the yield shown on the sites.

[CrazyTrader]

Thanks Pierrelebel.   I can understand if they did that for common shares, but for Preferrs, it doesn't make sense.  Dividend "Fixed" for next 5 years, it doesn't make sense looking backwards.   Common shares the dividends can change any time to any amount, so I can understand calculating yield by looking back 12 months.   Anyways, Thanks again

[pierrelebel]

"it doesn't make sense" I agree. Actually if you check the TSX site for all BPO five year reset preferred shares you will notice that the yield shown is based on the four dividend payments received in 2022 divided by current price. I suspect many sites (such as Stockhouse) simply take their information from there.  It is the TSE after all! They should know better!

[Stavkot]

For common shares Yahoo takes the last declared dividend. Sometimes the transfer agent calculates it and pays out without a news report which confuses the system. It makes sense that this happens for preferreds too. For example look at BCE.PR.S and notice that the yield is shown as ~7% when it should be north of 9%. This is because the last preferred dividend was declared by BCE when prime was a

[pierrelebel]

I contacted the TSX today asking them to investigate and correct such errors. Also, I noticed some dividends are wrongly shown in US$ while they are declared and paid (confirmed through my statements) in Canadian dollars. The wrong information on the TSX seems to be copied by Stockhouse and others. PIPE for example where they show a US$0.03 dividend instead of CAN$0.03.  The "yield