Friday, May 3, 2019

New Preferred Stock IPOs, April 2019

Compared to March’s fourteen new preferred stock issues, April was a quiet month. Just four new preferred stocks were introduced during April. But even with this small group, there was some diversity – two pay tax-advantaged dividends while one offers an investment grade rating. There is industry diversity to be found here, too – one property REIT, one energy partnership and two regional banks. As the month came to a close, the average market price for all U.S. traded preferred stocks was...

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