Format of PrefLetter: Page 1
The format of Page 1 is highly variable — a description of the preferred share market cannot be expected to fit into the same format month after month, irregardless of current events! There are a number of tables with a recurrent theme presenting data, however, which can be discussed here with every expectation that subscribers will actually see such a table in the future!
New Issues and Announcements
Various issues may have been added to the HIMIPref™ database since the previous newsletter - if so, they will be listed here. Fields reported in the table are:
- Issue: the TSX ticker symbol, with the last element being "?" if the issue has been announced but not yet listed and the symbol is not known. In such case, the first element of the ticker shown may be a guess as well.
- Type: This provides the name of the HIMIPref™ index to which the issue has been, or will be, assigned.
- Listing or Announcement Date: The date on which the issue commenced trading or, if not yet trading, the date it was announced.
- Issue Size: The announced face value of the issue, which may be shown as a range if underwriter options exist or if the size of the issue is not yet known (which is often the case with SplitShares).
HIMIPref™ Index Returns
This table shows the returns for each HIMIPref™ index over the period since the last newsletter.
There may have been reorganizations that affected issues tracked in the HIMIPref™ universe; if so, they will be reported in this table.
- Issue: The (old) ticker symbol of the affected issue
- Reorg Type: The type of re-organization, e.g., "Redemption", "Exchange", "Merger".
- Effective Date: The date of the reorganization.
- Consideration Received: The item received by holders of the issue, e.g., a cash amount or the new ticker symbol.
A brief overview of the state of the market since the previous newsletter. This may highlight credit rating changes, unusual market movements or any random thing that happens to catch my fancy!