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The Panic-Proof Portfolio (Stockchase Research) Co-operators Ins. Preferred 5.0% Perpetual CCS.PR.C-T TOP PICK Jun 06, 2024

Stockchase Research Editor: Michael O'Reilly

As the Canadian central bank has begun to reduce interest rates, preferred shares should benefit.  We reiterate CCS.PR.C as a TOP PICK.  CCS holds $58 billion in assets and has served the Canadian market for 78 years operating as a multi-line insurance cooperative and these preferred shares offers a great yield.  We continue to recommend a stop at $17, looking to achieve its par value of $25 -- upside potential over 30%.  Yield 6.5% 

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TOP PICK

Preferred series C 5%. (CCS.PR.C-T). This can be redeemed in 2016 at $25. Currently trading at $24.31, below its par value. It gives you yield of 7.36%.

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TOP PICK
Stockchase Research Editor: Michael O’Reilly

In times of uncertainty, holding high-quality dividend paying preferred shares is a good strategy.  We reiterate CCS as a TOP PICK as it is a well diversified insurance company  in a safe market space.  We recommend trailing up the stop (from $17) to $20, looking to achieve $25 — upside potential of 12%.  Yield 5.6%