Brookfield Office Properties Inc T.BPO.PR.G

RE:I wonder if BPO does not declare a dividend, shareholders

[SONOFFERGUS]

Crazy, I'm glad you're on the sidelines because you are missing some fundamentals on what the hell you used to own (despite the efforts of a lot of posters here).

You must understand that companies don't have any obligation to pay dividends so there is nothing to litigate.

These prefs are cumulative ofc, so the guarantee is in respect of BPO's obligation to pay accrued and unpaid dividends plus $25 par on redemption or liquidation (and importantly, without regard to BPO's assets, so it is BPY's assets that matter).  It is very much not a guarantee that BPO will declare and pay dividends every quarter.  If BPO were to be liquidated and BPO pref holders were not paid $25 plus accrued, lawsuits would fly.

What we (well, not you) are relying on is that BN is ready, willing and able to continue paying the BPO divs.  I expect that BPO pref prices will continue their upward march as rate cuts materialize and BPY buries the perception that it is an iffy credit.  It's not too late to buy back in!