TSX:BPO.PR.A - Post by User
Post by
Carenaon Feb 10, 2024 9:33am
476 Views
Post# 35873658
BPO Prefs - Saturday Morning Musings
BPO Prefs - Saturday Morning MusingsGood morning,
A pretty stable and quiet week for the BPO prefs but not the week I was expecting. I expected more enthusiasm after the BPO filing on its NCIB activity.
My takeaway is that it seems like BPO is still sitting on the bid, but I think there is a rule when a company is buying they are not allowed to bid up the share price (uptick rule?) and therefore as long as there is willing sellers of like 3,000 shares a day at current prices, then it is what it is?
If this is true, it might take a few months of BPO filings of 600,000 shares per month to set the bar for higher prices, all other factors constant.
Or maybe the BPO share prices at current yields reflect an an appropriate adjusted return. For example, the BPO N series which I own is yielding a 10.5% relative to the BN J series which I also own is yielding 7.6%.
Anyways, I am still very long and looking forward to the March dividends!
Have a great day,
Carena