Bullboard - Stock Discussion Forum Laurentian Bank of Canada T.LB.PR.H

Primary Symbol: T.LB Alternate Symbol(s): LAUCF | LRCDF

Laurentian Bank of Canada (the Bank) is a Canada-based provider of financial services to its personal, commercial and institutional customers. The Bank operates in Canada and the United States. Its segments include Personal Banking, Commercial Banking and Capital Markets. The Personal Banking segment caters to the financial needs of retail clients. The Commercial Banking segment caters to the... see more

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Laurentian Bank of Canada > Preferred interest….

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Post by rad10 on May 16, 2024 6:37pm

Preferred interest….

Looks like they are short changing on their calculations.

5 year plus 2.55% = 6.31%

why are they paying 6.196%?

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Comment by Pandora on May 16, 2024 10:27pm

"The dividend rate for the five-year period commencing on June 15, 2024, and ending on June 14, 2029, will be 6.196% per annum, being equal to the sum of the five-year Government of Canada bond yield as at May 16, 2024, plus 2.55%, as determined in accordance with the terms of the Preferred Shares Series 13."

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Comment by Pandora on May 16, 2024 10:41pm

What is the current rate for 5 year bonds in Canada? Canada 5 Year Benchmark Bond Yield is at 3.76%, compared to 3.77% the previous market day and 3.00% last year. This is lower than the long term average of 4.02%. 3.76 + 2.55 = 6.31 Their statement suggests a 5 year bond yield of 3.646?? But then it seems the bond yield is ...more

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