RE:RE:The Lord spoke to me last night!My good man.
Speaking of math lets do some, because yours doesn't appear that be that good. The terms of the reset are as follows: 5yrgovcan + 3.31%.
Today the 5yrgovcan rate stands at 3.82%, you can expect it to be in that neighbourhood when the reset date comes. With the premium that would give it a coupon rate of 7.13%. So say 7% as I said in my initial post.
Which would mean a yearly dividend of $1.75. So if one had purchased it below $23 as I suggested in my initial post (today you can buy it for $22.74 ) You would be receiving a yearly ROR of 7.6%.
As for ENB, if you want to put all your money into a value trap like ENB whose share price has significantly under preformed the TSX for the last 10 years. And whose dividend on the common shares is destined to be cut within the next two years IMO. Then be my guest!
You dare to question the word of God?.....Now go in peace!