RE:PreferredsIt is almost certain the dividend will be cut on the common shares in June. Preferred shares are different than the commons. These are rate reset preferred shares. The yield on the C shares for instance is over 13% and will be paid until the rate resets in January 2019. The reset rate is 4.2% plus the Canada 5 year bond rate (changes daily but today is .94% for a reset rate of 5.14% on a $25 share price.
Unless Aimia goes bankrupt which I doubt these shares will yield you over 13% until 2019 and at todays price and Canada 5 year bond yield will yield 11.1% on the reset date in 2019. If Canada Interest rates rise so will the yield on reset date.
The preferred shares can only be cancelled if Aimia pays the $25 issue price which is not likely. As I said unless Aimia closes shop which I doubt these dividends are as safe as Aimia is as a company.
I own the A and C preferred shares and have bought a few more. Any positive news and you will see the preferred shares take off. I believe they are a much better "bet" than the commons.
Sorry for the lengthly message.