Canadian Banc Corp T.BK

BK.PR.A on sale?

[sandino]

This stock will continue to yield 8% per year so why not buy at todays discount price? I just bought another 1000 @ 9.78. The NAV for the preferred+class A is ~$18, the best in the quadravest portfolio so will continue to pay out for many, many years to come.

[AnEducator]

The dividend rate is 1.5% over the prime rate, but with a maximum rate of 8% and a minimum rate of 5%. The 8% rate is not guaranteed and is only achieved while the prime rate stays at or above 6.5%. Currently, the prime rate is 7.2%, so if the BOC cuts rates sufficiently, you will no longer be receiving 8%. While I bought some this morning, BK preferreds are not my favourite. I purchased only for

[wolverine99]

What Preferreds do you like?

[AnEducator]

My largest holding, by far, is ffn.pr.a, which is up for extension next year. For a longer-term investment, ftn has an excellent yield but I am hoping to get back in below par if possible.  I also like dfn and dgs which are also up for extension next year.