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July 30, 2017 By  Tim McPartland The giant of the mortgage real estate investment trust (mREIT) universe, Annaly Capital Management (NYSE: NLY), has sold a huge fixed-to-floating rate preferred with an initial coupon of 6.95%. Proceeds from this offering of 28 million shares will be used to redeem the company’s 7.875% preferred issue, which is one of four preferreds that…

A large U.S. oil refiner and a Canadian utility have been paying rising dividends almost every year for decades and currently offer yields of 4.1% and 3.5%, respectively. Both stocks complemented their long-term rising dividends, with asset appreciation. Over the last 12 months, their respective share prices rose 26.3% and 7.4%. The ex-dividend dates are August 7, 2017, for Valero…

July 30, 2017 By Tim McPartland The parade of issuers of preferred stock selling fixed-to-floating-rate preferreds is continuing with New Jersey regional banker Valley National Bancorp (NYSE: VLY) taking action by selling a four million share offering with an initial coupon of 5.50%. This rate seems very low for a solid, but less than investment grade issuer. On the other…

Below are listed the preferred stocks that pay a monthly dividend (versus quarterly).  Sometimes if one wants a nice smooth flow of monthly income they may want to consider some of these issues. On a historical basis studies show that returns for preferreds stocks paying monthly dividends are no higher than those paying quarterly dividends--but just the same we kind…

When possible it is better to buy preferred stocks trading below par ($25) thus you have no risk of a capital loss on your investment if the shares should be called for redemption.  Below we list all the preferred shares that we cover from lowest priced to most expensive thus it is easy to find issues trading under $25. From…