Update–The OTC temporary ticker for this issue will be BIPFF
Brookfield Infrastructure Partners (BIP) has announced they will be selling a new preferred unit (it is a partnership so they are units instead of stock).
The company currently has 1 other preferred unit outstanding–a 5.125% coupon issue (BIP-A). This issue had traded up toward $27 recently, but has falllen to $25.22 in the last week.
The preliminary prospectus can be read here.
This issue will generate a k-1 at tax time.
I own the A shares. Bought through Schwab and I did not pay any stock fee and they did not take out any taxes on the last dividend.
Ditto Vanguard.
wonder. Partnership tax return? foreign stock fee?
bill–yes it is k-1. Not sure on the taxes withheld–it is Bermuda domiciled.
Should not be a foreign stock fee but some brokerages will get it wrong while if is trading on an OTC ticker. Case by case, day by day. Vanguard usually has it straightened out by 2nd or 3rd day of trading.
Once is trading NYSE there should be no foreign stock fee. But some brokerages may still get it wrong.
Thanks Bob