Brookfield Office Properties Inc T.BPO.P.A

Any comment?

[wynner]

Partners value pref (Brookfield) being redeemed at $25. Irrelevant ?
PVS.PR.F

[pierrelebel]

Yes, it is irrelevant to BPO preferred shares. Those have been trading in a narrow $24 to $26 range for years. Partners Value Split Corp. is a Canada-based investment fund. The Company’s objective is to invest in Class A Limited Voting Shares of Brookfield Corporation and Brookfield Asset Management Ltd. (Brookfield shares), which generate cash flow through dividend payments that fund quarterly

[CrazyTrader]

I guess company thinks paying ~4.8%  in dividends is too much.     Meanwhile, BPO's T's are yielding 11.49%..... costing company ~6.79%.    The kicker will be the C's. All just my opinion/view/thinking..... kinda give you an idea what these BPO prefer shares are really worth if credit agency thinks dividends will be paid for the "foreseeable future

[Carena]

Hi Wynner, I own some of the series PVS.PR.I.   See the link below.  These prefs actually have pre-determined redemption dates.  Are you saying they are redeeming ahead of the Sept 2024 reemption date?   https://www.partnersvaluesplit.com/investor-centre/preferred-share-and-dividend-information Carena

[wynner]

I don't know. Maybe? I don't own any. It says May 31st. https://money.tmx.com/quote/BAM/news/5167017972839758/Partners_Value_Split_Corp_to_Partially_Redeem_Its_Class_AA_Preferred_Shares_Series_8

[wynner]

Looks that way. "any time prior to September 30th" https://www.partnersvaluesplit.com/~/media/Files/P/Partners-Value/preferred-share-and-dividend-information/pvs-series-8-english-prospectus.pdf?la=en

[wynner]

They just had $50 million hanging around doing nothing. Sooo ...Why not eh?

[Carena]

Hi Wynner, I guess so...save a dividend payment or 2 perhaps. Carena

[CrazyTrader]

This is why I bought Prefer Shares, not Common Shares.   Basically only way for the company to stop dividend payments on Prefer Shares is to redeem them at Par or buy them back on the open market.    Common Shares the company can cut or even cancel dividends payments basically any time.   If just about everyone including credit agencies thinks company is "