TSX:BPO.PR.A - Post by User
Comment by
SONOFFERGUSon Apr 26, 2024 2:12pm
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Post# 36009947
RE:RE:RE:Remember, Prefers "cost" more than debt... company can't
RE:RE:RE:Remember, Prefers "cost" more than debt... company can'tThanks Pierre.
Yeah, I saw that article after 2023 budget.
I knew quite a bit about P&Cs and their taxes 30 (!) years ago. A lot has changed ofc, but my thought on seeing it was that they are sitting on massive losses that are booked against equity -- not current income -- under IFRS, so they won't be looking to dump their holdings. It looks like that was right given how prefs have been performing. Obviously their math changes wrt new issues, but some prefs might still be better bets than corporate bonds or common shares.
This stuff fascinates me. Sad, I know.
Best,
Sonofergus