Canadian Discussion Page

Without me writing about it I see that quite a few folks are using the Canadian Discussion page which is linked in the right column. I think it was Dave yesterday who suggested this page so thanks to him.

On the old Yield Hunter website we had some Canadian securities and I hope that will become part of this site as well. It’s always a question of getting ticker symbols that will work reliably within a Google spreadsheet.

For some of the “lurkers” out there feel free to read and learn from some smart people by watching the conversation on the Canadian page–it is not required that you participate (obviously) in the discussion–just do like me and let the smart folks educate you.

25 thoughts on “Canadian Discussion Page”

  1. Anyone hold Enbridge EBGEF or the like at Fidelity in a Tax exempt account. Do they withold 15% tax?

  2. Schwab Tax-Exempt accounts and the Canadian 15% tax
    We just had it withheld in our IRA at Schwab on the 6/1 EBGEF Enbridge distribution. Schwab Global Investing says that is correct. Anyone else experience this?

    1. Mike, It is not correct and a source of confusion and frustration. I had the problem with ERRAF and they gave same answer. I knew they were wrong but didnt fight it..Well another online friend did and made repeated calls until he got it resolved. His efforts resulted in mine withholding being reversed and credited back to me without me doing anything. Another canadian issue in Roth oddly was done correctly at the same time. They are wrong they just dont understand or dont know what they are doing. This happens enough to where I am not messing with them in a taxable other than what is there now.
      I dont want the hassles of their screw ups. They can take the withholding out of taxable like they are supposed to and I will file and reclaim it tax return time.

    2. This confirms what a Schwab rep told me would happen. When I worked on getting the EBGEF ticker assigned, the rep said that because DTC was not the custodian, the 15% would be charged if I held it in a retirement account. I put it in my taxable account.

      DTC seems to be the only custodian that plays nice with the tax treaty. The others seem to ignore it.

    3. Had the same thing happen with my EBGEF dividend. And with my ERRAF dividend in May. I have a complaint/question in with Schwab now but haven’t got a response yet. I’m about ready to move it all somewhere else as Schwab is not cheap and they are slow to respond sometimes.

    4. Mike, I forgot I still has some EBBNF in TD and divi just posted today. It is in a tax free account and NOTHING was withheld. They did that right, but I also have a small entry position of CDUTF and they DID withhold in tax free in it today….Ugh it never ends….Well its about to as Im getting everything consolidated where I can quit fighting and just get what needs to be in taxable and not worry about it anymore.

      1. EBBNF and EBGEF hit TDAM today, nothing withheld for either. Account is IRA. That’s two divvies for EBBNF – it’s down a bit but it ain’t going anywhere!

      2. Amy, Grid, & Steve,

        i discussed this with a Global Investing manager named ‘Junior’ out of the Dallas office. Amy has hit the nail on the head as I was told the same thing. When I said there were other Schwab tax-exempt account holders that had received refunds he asked their names so he could check to see how it was handled in their account and would set my account the same. So, if anyone with a tax-exempt account that ISN’T being charged the 15% feels brave enough let me use their name with Schwab you can reach me at mikeolivera at gmail dot com.

      3. Grid – received my first divs today on both EBBNF and EBGEF @ TDAmeritrade with 15% withheld in taxable account… Amall amount of EBGEF in IRA account had no withholding. All as expected.

        1. Tim and 2WR, sentiment is really bad on the resets with the sudden recent drop on long end curve. I would like to see them drop a buck so I can go for a round 2 lot purchase of some of these.

          1. Thinking the same way but at least on EBBNF, I don’t need no 1 point drop, to paraphrase Humble Pie, before I’ll be bidding……. Have not figured a price point on EBGEF yet.

            1. 2WR, They all appear to have their separate “price points”. I was able to buy a lot of EBBNF in the high $17s and low $18s last winter. It hasnt came close to revisiting that. But it reset off a 1.7% ish 5 yr in 2017. I dont know if it revisits that point or not (like I would know anyways, lol).
              CNAUF (The Series Y of Canadian Utilites LTD) crashed through its 52 week low by 30 cents (which it just set) on TSX. So I switched out of FF and bought 590 more of Series Y.
              Im sitting on my Enbridge as I overloaded last winter then sold off a lot of the EBBNF over $20. Kind of balanced with EBGEF and EBBNF and just in hold mode. Still just playing around in smaller amounts in the true reset utes like CU, as I think they are more exposed due to lower present yields. The interesting part on the lower yielding ute resets is they dont seem to handicap how many years protection they have before reset. They all get the whammy treatment.

      4. Greetings Grid (and all). First post on this site but have been lurking for what seems ages. Question for you Grid on the CDUTF. I too had my distro today in an IRA and did not get anything withheld. I didn’t really do anything special to make that happen the way I did with the ERRAF several months back. In fact, all my Canadian resets now have no withholding in my IRA. I have TD.

        1. Hey Pig, as you know you were the person who got them to reverse the withholding for me also with your pit bull mentality regarding the ERRAF withholding at TD. That is odd yours didnt get witheld and mine did, this time since your actions automatically corrected my issue. I guess I will have to call, ugh. Or move them to taxable where they really belong anyways. Decisions decisions…..

          1. I’ll recheck in the morning as sometimes those pesky withholdings appear next day. I wasn’t surprised the Enbridge stuff was ok, but was surprised to see that CDUTF was also ok. I expected a fight. Rest assured, if there is a problem I will be pestering them again.

  3. Off topic, but I noticed PBI-B has had a really bad month and is back to its December lows.

    Something must be really wrong with this company- Check out the 5 year stock chart of PBI $28 to $4 in a straight line

    1. Here’s a 5/1 comment from Value Line Investment Services on the PBI situation:
      Pitney Bowes, a postal services firm, saw its stock trade sharply lower in response to the company’s underwhelming first-quarter results. Specifically, adjusted earnings clocked in at $0.12 a share, falling well below last year’s tally of $0.30 and our estimate of $0.21. (This includes a $0.03-per-share charge related to a SendPro C tablet replacement program to address an underlying battery longevity issue.) This can largely be attributed to a weaker performance in the Presort Services business, due to execution around pricing and productivity.

      At the same time, sales slipped 3.1% year over year, to $868.4 million, reflecting a changing business mix away from shipping-related revenues toward higher growth digital and e-commerce markets. To wit, revenues in the Commerce division were up 5% on a reported basis, year over year, and represented the largest component of the top line for the second-consecutive quarter.

      Looking ahead, management lowered its 2019 guidance, signaling execution issues and elevated costs, which may well persist in the coming quarters as the company takes measures to shift the business toward higher growth markets. As a result, we have cut our full-year 2019 earnings estimate by a dime, to $1.00 a share. We are keeping our revenue estimate unchanged, however, at $3.565 billion. Year over year, this represents a 14% share-net decline, on a modest 1% revenue uptick.

      * The earnings estimates presented herein supersede the figures found in the Summary & Index included in Issue 12 of The Value Line Investment Survey, dated 5-3-19.

      (So, this is a “wait & see” situation regarding a turnaround in their business mix – it’s more than a 1 or 2 quarter situation. Disclosure: I own 1K sh. of PBI.B.

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