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With downward pressure on interest rates building over the last several weeks, preferred stock issuers took the opportunity to introduce ten new securities during June. As the month came to a close, the average market price for all U.S.-traded preferred stocks was $25.27, up $0.08 per share over the last month but right where they were twelve months ago. June’s ten new preferred stocks are offering an average annual dividend (coupon) of...
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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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March delivered a spectacular crop of new preferred stock issues, almost all of which are offering cumulative dividends and half come with investment grade ratings. During March, fourteen new preferred stocks were issued (and began trading by press time). As the month came to a close, the average market price for all U.S. traded preferred stocks was $24.93, up $0.21 per share over the last month...
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The upward pressure on preferred stock prices that we saw during January continued throughout February. As the month came to a close, the average market price for all U.S. traded preferred stocks was $24.72, up $0.15 per share over the last month. The good news is that $24.72 is still below these securities’ $25.00 par value.
February’s six new preferred stocks are offering an average annual dividend (coupon) of 6.5 percent, an average current yield (which does not consider reinvested dividends or capital gain/loss) of 6.5 percent and an average Yield-To-Call (which does consider reinvested dividends and capital gain/loss) of...
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Preferred stock prices ticked back up throughout January, but are still just below these securities' $25 par value offering an opportunity for buyers.
January’s four new preferred stocks are offering an average annual dividend (coupon) of 7.0 percent, an average current yield (which does not consider reinvested dividends or capital gain/loss) of 6.8 percent and an average Yield-To-Call (which does consider reinvested dividends and capital gain/loss) of...
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According to Bloomberg News, the French economic meltdown was just one of three primary events that caused investors to sell equity positions worldwide during December - Brexit uncertainty and a significant slowdown in China joined the French turmoil to form the perfect storm.
December's global equity selloff included U.S. preferred stocks, pushing average prices down by $0.67 throughout the month. That price drop pushed up preferred stock yields substantially (now at 7.36%), delivering a spectacular end-of-year bonus to today's preferred stock buyers...
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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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