Brookfield Office Properties Inc T.BPO.P.A

Remember, Prefers "cost" more than debt... company can't

[CrazyTrader]

expense off Prefer dividends while they can expense off interest on debt to pay less TAX.  

I'm guessing come 2026 the C's going to cost the company maybe close to 10%  or $2.50/year/share in dividends.   

Ya.... good chance they will be redeemed.

[SONOFFERGUS]

Yes, CRAZY, companies are idiots for issuing prefs and should redeem them immediately! If you can't make sense of why pref shares exist, you should not invest in them.  Full stop.  Sell your holdings, be glad for your gains, buy a boat.

[CrazyTrader]

RESET Prefers were isssued because back then interest rates were going down down down down down.... So, the cost (dividend payments) on them would become smaller smaller smaller.   For the longest time, that's was the trend on interest rates... Down.. Until we hit basically ZERO. Do you see any company issuing new RESET Prefers in past few years!!!!!   I don't think

[SONOFFERGUS]

CRAZY, I think you don't know a thing about a thing.   Prefs are perpetuals.  Dividends are everything, principal is nothing.  Price = coupon/yield. Read a book. I've added to my holdings as weak hands folded/profits were booked.  I bought a whack of BPO.PR.E under $13 last week.  Hold A, N, W, X, E, haven't sold a share. We agree on one thing -- boats

[pierrelebel]

Good afternoon SONOFFERGUS Preferred shares are not for everyone.  It is important to fully understand what they are.  I came across an interesting paper prepared by SLC Management outlining Federal budget implications for Canadian preferred shares Well worth reading as it explains why some Canadian institutions may be selling preferred shares. Considering the low credit rating of

[CrazyTrader]

Sounds like Double Taxation.....  Triple Taxation once paid to you and you have to pay tax again on the dividend.   OH, Dividend Tax Credit isn't all that's cracked up to be.......  You have to "Gross up" the actual dividend you recieved and report that on your income tax return.   So, you first pay more tax on more money than you actually recieved,

[SONOFFERGUS]

Ah yes, gross up and credit is unknown to investors.  JFC.

[SONOFFERGUS]

Thanks Pierre. Yeah, I saw that article after 2023 budget.   I knew quite a bit about P&Cs and their taxes 30 (!) years ago.  A lot has changed ofc, but my thought on seeing it was that they are sitting on massive losses that are booked against equity -- not current income -- under IFRS, so they won't be looking to dump their holdings.  It looks like that was right

[SONOFFERGUS]

Another crazy take, CRAZY. Think (do your best) about this from the CFO's perspective.  If we redeem, what are the implications?  Off the top: We have a $150mm hole in our capital structure The increase in leverage may put our debt rating in jeopardy (and maintaining that "A" rating" is likely the most important factor in BN's analysis) EPS will drop

[CrazyTrader]

Sonoffergus, just perhaps you are the idiot.    2+2 = 4  A cat is not a Dog.   Common Shares are not Prefer Shares.   Prefer Shares are different from Debt.   You have Gains when Share prices go up.   .............................................................................. Stop ignoring the TRUTH Sonoffergus by spewing out other

[SONOFFERGUS]

CRAZY, I am the idiot -- for trying to get you on the right track.   Yep, some banks have chosen to redeem.   Yep, BPO is buying under NCIB. And?  You seem to think that the redemption fairy (or Easter bunny?) is coming to redeem BPO prefs because of what the banks are doing.   Absofukkinglutely not.  Zero chance.  None. Check the chart on BPO.PR.C,