|Bid||803.39 x 800|
|Ask||803.83 x 900|
|Day's Range||802.62 - 812.91|
|52 Week Range||451.35 - 827.85|
|Beta (5Y Monthly)||1.17|
|PE Ratio (TTM)||23.33|
|Earnings Date||Jul 15, 2021 - Jul 19, 2021|
|Forward Dividend & Yield||16.52 (2.04%)|
|Ex-Dividend Date||Mar 04, 2021|
|1y Target Est||906.93|
(Bloomberg) -- Availability of cheap credit has masked distress, but it’s still out there, says BlackRock managing director Mark Kronfeld. You just have to know where to look.“Just because you’re not seeing bankruptcy filings doesn’t mean there isn’t distress,” said Kronfeld, a member of the global credit platform at BlackRock Inc., which manages $9 trillion in assets.There will be fewer traditional bankruptcies -- besides pre-packaged filings -- as long as there’s enough liquidity to ride out the pandemic, according to Kronfeld, who focuses on special situations and distressed investments. Still, there may be more bankruptcy filings in the sectors most impacted by the pandemic, including retail and energy, Kronfeld said.“Companies, even with increased leverage, are able to get cheap financing,” but risks remain, he said on a virtual panel hosted by SierraConstellation Partners.There was about $90 billion of distressed debt trading as of April 16, down from almost $1 trillion in March 2020, according to data compiled by Bloomberg. That includes nearly $5 billion in retail bonds and loans, and $15 billion from oil and gas companies.Last week saw just one new bankruptcy filing from a firm with at least $50 million of liabilities, according to data compiled by Bloomberg. Weekly filings have been trending lower since the end of February.Bankruptcy filings this year “haven’t been prolific,” with many companies filing with less than $100 million in assets and liabilities, said Richard Bernard, partner at law firm Faegre Drinker Biddle & Reath.Potential pockets of stress in manufacturing and the higher education sector could emerge, depending on the lasting disruption from the pandemic, Bernard said.In the latest week, Chilean car importer and distributor Automotores Gildemeister SpA sought court protection after struggling under a heavy debt load. It’s seeking quick approval of a plan to slash debt and hand ownership of the company to secured creditors.Last week’s total doesn’t include the Chapter 11 case of Plaza Mexico, a mall in Los Angeles County, because an affiliate already entered bankruptcy in February. The mall sought court protection ahead of a planned foreclosure sale last week.Telecom DistressMeanwhile, the amount of traded distressed bonds and loans shrank to about $88.6 billion as of April 16, down 0.4% week-on-week, data compiled by Bloomberg show. Troubled bonds dropped 0.1% while distressed loans fell 1.3%.Telecoms had more than $17 billion in distressed debt, making the sector the most troubled part of credit markets for the first time since the pandemic began. Since March 2020, oil and gas firms had accounted for the lion’s share of distressed bonds and loans, the data show.Click here for a worksheet of distressed bonds and loansThere were 242 distressed bonds from 132 issuers trading as of Monday, up from 232 and 128, respectively, one week earlier, according to Trace data.Diamond Sports Group LLC had the most distressed debt of issuers that hadn’t filed for bankruptcy as of April 16, Bloomberg data show. Its parent company, Sinclair Broadcast Group Inc., said in a March filing that it expects Diamond to have enough cash for the next 12 months if the pandemic doesn’t get worse.Click here for more news on distressed debt and bankruptcy. First Word is curated by Bloomberg editors to give you actionable news from Bloomberg and select sources, including Dow Jones and Twitter. First Word can be customized to your Worksheet, sectors, geography or other criteria by clicking into Actions on the toolbar or hitting the HELP key for assistance.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
TORONTO, April 20, 2021 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the April 2021 cash distributions for the iShares ETFs listed on the TSX or NEO which pay on a monthly basis. Unitholders of record of a fund on April 27, 2021 will receive cash distributions payable in respect of that fund on April 30, 2021. Details regarding the “per unit” distribution amounts are as follows: Fund NameFund TickerCash Distribution Per Unit ($)iShares 1-10 Year Laddered Corporate Bond Index ETFCBH0.046iShares 1-5 Year Laddered Corporate Bond Index ETFCBO0.040iShares S&P/TSX Canadian Dividend Aristocrats Index ETFCDZ0.085iShares Equal Weight Banc & Lifeco ETFCEW0.041iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged)CHB0.076iShares 1-5 Year Laddered Government Bond Index ETFCLF0.030iShares 1-10 Year Laddered Government Bond Index ETFCLG0.039iShares Premium Money Market ETFCMR0.000iShares S&P/TSX Canadian Preferred Share Index ETFCPD0.048iShares Short Duration High Income ETF (CAD-Hedged)CSD0.069iShares US Dividend Growers Index ETF (CAD-Hedged)CUD0.094iShares Convertible Bond Index ETFCVD0.071iShares Global Monthly Dividend Index ETF (CAD-Hedged)CYH0.061Dynamic Active Tactical Bond ETFDXB0.042Dynamic Active Canadian Dividend ETFDXC0.040Dynamic Active Crossover Bond ETFDXO0.057Dynamic Active Preferred Shares ETFDXP0.072Dynamic Active Investment Grade Floating Rate ETFDXV0.011iShares Canadian Financial Monthly Income ETFFIE0.040iShares Core Canadian Universe Bond Index ETFXBB0.069iShares Canadian Corporate Bond Index ETFXCB0.056iShares Core MSCI Global Quality Dividend Index ETFXDG0.065iShares Core MSCI Global Quality Dividend Index ETF(1)XDG.U0.052iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged)XDGH0.041iShares Core MSCI Canadian Quality Dividend Index ETFXDIV0.082iShares Core MSCI US Quality Dividend Index ETFXDU0.049iShares Core MSCI US Quality Dividend Index ETF(1)XDU.U0.038iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged)XDUH0.057iShares Canadian Select Dividend Index ETFXDV0.096iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged)XEB0.055iShares S&P/TSX Composite High Dividend Index ETFXEI0.076iShares S&P/TSX Capped Financials Index ETFXFN0.111iShares Floating Rate Index ETFXFR0.005iShares Canadian Government Bond Index ETFXGB0.043iShares Global Government Bond Index ETF (CAD-Hedged)XGGB0.027iShares Canadian HYBrid Corporate Bond Index ETFXHB0.062iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)XHD0.083iShares U.S. High Dividend Equity Index ETFXHU0.070iShares U.S. High Yield Bond Index ETF (CAD-Hedged)XHY0.073iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged)XIG0.048iShares Core Canadian Long Term Bond Index ETFXLB0.065iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged)XPF0.065iShares High Quality Canadian Bond Index ETFXQB0.042iShares S&P/TSX Capped REIT Index ETFXRE0.037iShares ESG Canadian Aggregate Bond Index ETFXSAB0.040iShares Core Canadian Short Term Bond Index ETFXSB0.047iShares Conservative Short Term Strategic Fixed Income ETFXSC0.043iShares Conservative Strategic Fixed Income ETFXSE0.046iShares Core Canadian Short Term Corporate Bond Index ETFXSH0.043iShares Short Term Strategic Fixed Income ETFXSI0.045iShares Short Term High Quality Canadian Bond Index ETFXSQ0.031iShares ESG Canadian Short Term Bond Index ETFXSTB0.030iShares Diversified Monthly Income ETFXTR0.040iShares S&P/TSX Capped Utilities Index ETFXUT0.078(1) Distribution per unit amounts are in U.S. dollars for XDG.U, XDU.U Further information on the iShares Funds can be found at http://www.blackrock.com/ca. About BlackRock BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @BlackRockCA About iShares ETFs iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 900+ exchange traded funds (ETFs) and US$2.67 trillion in assets under management as of December 31, 2020, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock. iShares® ETFs are managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. Contact for Media:Reem JazarEmail: firstname.lastname@example.org
The European Commission has said it will consider forcing companies to disclose conflicting interests when they bid for EU-funded contracts, following an inquiry into its appointment of a division of BlackRock to help develop green banking rules. The European Union watchdog rapped the Commission in November for appointing the Financial Markets Advisory (FMA) unit of BlackRock, the world’s largest asset manager, to produce a study that would inform EU plans to integrate sustainability into banking prudential rules. European Ombudsman Emily O'Reilly did not ask the Commission to cancel the contract, but said it should have better scrutinised BlackRock's motivation in bidding, its pricing strategy and its own measures to prevent conflicts of interest.