Featured Articles
Escalera Resources Preferred (NASDAQ:ESCRP) Goes ‘On Sale’
Tim McPartland | September 4, 2014
As reader Bryan asked "What is going on with Escalera Resources Preferred?". We had already been watching it this week as we personally have 300 shares in our portfolio--and a drop of near $2/shares gets our attention.The preferred shares of Escalera (ticker:ESCRP) had been tooling along at $25/share (plus or minus a quarter) for the last 3 months and out…
Bank of America Announces 6.625% Preferred Offering
Tim McPartland | September 3, 2014
September 3, 2014 7:45 amBank of America has announced a new issue of non cumulative preferred stock with a coupon of 6.625%.Because this issue is perpetual (and is non cumulative) we have no interest in the issue at this time. We are trying to shorten durations of our holdings and buying 'perpetual' issues is contrary to where we are…
Bank of America 6.625% Non Cumulative Preferred Stock
Tim McPartland | September 3, 2014
Date Issued 9/2/2014Shares Issued 40,000,000 Over Allotment Shares 6.000,000S&P Rating BB+ Moodys Rating Ba3Security Ticker Symbol BAC-W OTC Temp Ticker BMMPPMarket Traded ON NYSEDividend Payment Paid on the 9th of March, June, September and December beginning on 12/09/2014Quarterly Dividend .414 Annual Dividend 1.656Securities may be redeemed, at the issuers option, as early as 9/09/2019 for…
