RE:RE:RE:RE:It does not make sense...
PR.d was issued at $25. with a $1.15 annual dividend = 4.6%.
If it trade at $7.59, this $1.15 div. equals 15.15%.
The last trimestrial div will be paid dec 31 2015 (record date dec 1).
the next div on PR.d will be paid on march 31 2016. This will also be the first reset date for PR.d.
The new rate will be the 5 year cda bond yield (0.82%) + 2.03% = 2.85%
This new rate, starting on the next trimestrial div will be good for 5 years, after which there will be a new reset rate based on the same formula.
This new rate of 2.85% applied to a $25 stock equals an annual div amount of $0.7125
This new dividend, applied on a stock trading at $7.59 equals a yield of 9.39%
PR.d was issued at $25. with a $1.15 annual dividend = 4.6%.
If it trade at $7.59, this $1.15 div. equals 15.15%.
The last trimestrial div will be paid dec 31 (record date dec 1).
the next div on PR.d will be paid on march 31. This will also be the first reset date for PR.d.
The new rate will be the 5 year cda bond yield (0.82%) + 2.03% = 2.85%
This new rate, starting on the next trimestrial div will be good for 5 years, after which there will be a new reset rate based on the same formula.
This new rate of 2.85% applied to $25. stock equals an annual div amount of $0.7125
This new dividend, applied on a stock trading at $7.59 equals a yield of 9.39%
The other PR have different reset date and formulas
For exemple the first reset date for PR.j is sep 30 2019 and the formula will be 5year cda bond yield + 3.8%