Monday, December 3, 2018

New Preferred Stock IPOs, November 2018

The Federal Open Market Committee is scheduled for a two-day meeting December 18 and 19 and is widely expected to increase the federal funds rate for the fourth time this year. November’s five new preferred stocks are offering an average annual dividend (coupon) of 7.3 percent compared to 7.0 percent from October’s new issues.

For preferred stock buyers, upward pressure on interest rates boosts the dividends paid by new issues, increasing your income, and lower prices bring not only cash savings on your share purchases but higher yields since you earn the same dividend income without having to invest as much of your cash; your income, cash balance and yield all respond favorably to the Fed’s interest rates increases...

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Friday, November 2, 2018

New Preferred Stock IPOs, October 2018

October’s seven new preferred stocks are offering an average annual dividend (coupon) of 7.0 percent, compared to 6.4 percent from September’s new issues.

Over the past couple of months, the average market price of U.S.-traded preferred stocks fell by $0.95 per share, now sitting at $24.49, creating the best opportunity for preferred stock buyers that we have seen since 2016.

Importantly, note that $24.49 is below these securities’ $25 par value. Remember that the par value is what shareholders will receive in cash should the issuing company decide to redeem your shares, so buying shares below par sets you up for a downstream capital gain on top of the regular dividend income provided by these securities...

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Tuesday, October 2, 2018

New Preferred Stock IPOs, September 2018

The U.S. preferred stock marketplace experienced a monumental change during September and preferred stock issuers seem to have seen it coming. Increasing rates deliver increased income to preferred stock buyers as the dividends paid by new issues go up. But increasing dividend rates means an increase in dividend expense to the issuing company. While we usually see five or six new preferred stock issues each month, we saw sixteen during September...

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Tuesday, September 4, 2018

New Preferred Stock IPOs, August 2018

With consumer spending up, household income up, high employment, GDP growth at an almost unheard of 4.3 percent and consumer confidence hitting historic highs last week, the Fed is certain to continue putting upward pressure on interest rates. But demand for preferred stocks remains high, keeping the average market price at...

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Thursday, August 2, 2018

New Preferred Stock IPOs, July 2018

Preferred stock prices have fallen an average of $0.50 per share so far this year, delivering higher returns to today’s preferred stock buyers. Continuing upward pressure on interest rates is likely to put additional downward pressure on preferred stock prices. But demand for these securities remains high, keeping the average market price at $25.36, $0.36 per share above par...

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Monday, July 2, 2018

New Preferred Stock IPOs, June 2018

As the first half of 2018 wraps up, higher rates have provided an average price savings of about $0.50 per share to preferred stock buyers. There are currently 121 high quality preferred stocks selling for an average price of $25.09 per share (investment grade, cumulative dividends). 51 of these high quality issues are now selling below their $25 par value, offering an average current yield of...

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Monday, June 4, 2018

New Preferred Stock IPO’s, May 2018

The upward pressure on interest rates that has been building for some time now continues to deliver benefits to preferred stock investors. For the first time since November 2016, there were multiple investment grade preferred stocks issued during May paying 6+ percent dividends. May’s five new preferred stocks are offering an average annual dividend (coupon) of 6.8 percent for the consideration of preferred stock investors...

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