TSX:AX.PR.E - Post by User
Comment by
MyHoneyPoton Aug 17, 2023 10:24am
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Post# 35592786
RE:Greg Newman - BNN - Weak Buy
RE:Greg Newman - BNN - Weak BuyReally not a informed opinion.
The company has been buy back the E and I series of the preferred shares as well and stock, so the company is buying back the stock.
The E shares are trading at $17.25 and when repriced in two weeks will pay BOC 5 year rate (4.2 plus 3.3%) close to 7.5 percent based on a $25 dollar strike price for perferred shares.
AX.PR.E is currently trading for $17.28 that makes the return $10.85%
So i would argue your getting paid and you payout is ahead of the holders of the common stock.
Didn't like his answer and he seemed uninformed.
IMHO