Floating-Rate Preferred Sharesa

Company Series Symbol Nominal Rateb Adjust- able?c Payment Frequencyd Redemption Price DBRS Ratinge
Alcan C AL PR E Greater of
i) 72% of prime
ii) lesser of 7.5% and prime 		N FMAN $25.00 P-2 (Low)
Alcan E AL PR F 75% of prime N JAJO $25.00 P-2 (Low)
BCE S BCE PR S 80% of prime Y Monthly $25.50 P-2
BCE Y BCE PR Y 80% of prime Y Monthly $25.50 P-2
Bell Canada 15 BC PR A 80% of prime Y Monthly $25.50 P-2 (High)
Bombardier 2 BBD PR B 80% of prime Y Monthly $25.50 P-4
BPO Properties G BPP PR G 70% of prime N FMAN $25.00 P-3
BPO Properties J BPP PR J 70% of prime N FMAN $25.00 P-3
BPO Properties M BPP PR M 70% of prime N FMAN $25.00 P-3
Brascade Resources B BCA PR B 50% of prime plus 1.50%, min $3.20 N MJSD $40.00 Not Rated
Brookfield Asset Management 4 BAM PR C 70% of prime N MJSD $25.00 P-2 (Low)
Brookfield Asset Management 2 BAM PR B 70% of prime N MJSD $25.00 P-2 (Low)
Brookfield Asset Management 8 BAM PR E 85% of prime Y Monthly $25.50 P-2 (Low)
Brookfield Asset Management  13 BAM PR K 70% of prime N MJSD $25.00 P-2 (Low)
Brookfield Asset Management  14 BAM PR L 63% of prime N Monthly $100.00 P-2 (Low)
Co-operators General Insurance  A CCS PR A Greater of
i) 90% of prime
ii) $1.38 		N MJSD $25.50f P-3
Domtar B DTC PR B 72% of prime N JAJO $25.00 P-4 (High)
Empire 2 EMP PR B 75% of prime N JAJO $25.45 (2003) decreasing $0.05/year to $25.00 (2012) P-3
Extendicare 2 EXE PR B 71% of prime N FMAN $25.00 Not Rated
Extendicare 3 EXE PR C 72% of Canada yield price N FMAN $25.00 Not Rated
Extendicare 4 EXE PR D 72% of prime N FMAN $25.00 Not Rated
Extendicare 1 EXE PR E 65% of prime Yg Monthly $25.00 Not Rated
Fiducie Desjardins 1 FID PR A 70% of prime N JAJO $25.00 Not Rated
Norbord 1 NBD PR A 72% of prime Y JAJO $25.00 P-3
Noranda F NRD PR F 85% of prime Y Monthly $25.50 P-3
Nortel 5 NTL PR F 80% of prime Y Monthly $25.50 P-5 (Low)
Nortel 7 NTL PR G 80% of primei Y Monthly $25.50 P-5 (Low)
Power Corp. 1986 POW PR F 70% of prime N JAJO $50.00 P-2
Power Financial A PWF PR A 70% of prime N FMAN $25.00 P-2 (High)
Thomson II TOC PR B 70% of prime N MJSD $25.00 P-2 (Low)
  1. The author takes no responsibility for any errors or omissions.  This list attempts to include all publicly-traded floating-rate preferred shares on the Toronto Stock Exchange; inclusion does not imply a recommendation to buy any individual security, nor would exclusion imply a recommendation not to buy.  Consult the prospectus or annual report before buying, since many of these issues have additional provisions.  Investors should also obtain the recent S&P and DBRS ratings before considering purchase.
  2. All preferreds are cumulative unless otherwise indicated.  The actual rate may be different from the nominal rate if the security has a rate adjustment mechanism.
  3. The adjustment mechanism will raise or lower the dividend rate if the preferred trades outside a certain price range.  The dividend rate is constrained to be within 50% of prime and prime, unless indicated otherwise.
  4. JAJO =  January, April, June, October.  FMAN = February, May, August, November.  MJSD = March, June, September, December.
  5. As of January, 2005.
  6. Redeemable at $25.00 on June 30, 2007 and every fifth year thereafter
  7. Dividend rate can vary from 50% of prime to 80% of prime, depending on trading price.
  8. Redeemable at $25.00 on Mar. 1, 2009 and every fifth year thereafter.
  9. Non-cumulative.

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