Preferred Stock

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SeekingAlpha  6 hrs ago  Comment 
By Daan Everts: Preferred shares as a group trade highly correlated. Divergences arise largely based on duration and credit differentials, and to a lesser extent features such as call dates, industry, qdi and cumulative dividends. As the markets...
Forbes  Oct 6  Comment 
On 10/8/14, Power Financial Corp's Non-Cumulative First Preferred Shares, Series E (Toronto: PWF-PRF) will trade ex-dividend, for its quarterly dividend of $0.3281, payable on 10/31/14. As a percentage of PWF.PRF's recent share price of $25.33,...
DailyFinance  Sep 23  Comment 
TORONTO, ONTARIO -- (Marketwired) -- 09/23/14 -- Fairfax Financial Holdings Limited ("Fairfax") (TSX:FFH)(TSX:FFH.U) announces today that the Toronto Stock Exchange (the "TSX") accepted a notice filed by Fairfax of its intention to commence a...
Forbes  Sep 10  Comment 
In trading on Wednesday, shares of GMP Capital's Cumulative 5-Year Rate Reset Preferred Shares, Series B (Toronto: GMP-PRB) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.3752), with shares changing hands as low...
Forbes  Sep 9  Comment 
On 9/11/14, Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares (NYSE: VNO.PRL) will trade ex-dividend, for its quarterly dividend of $0.3375, payable on 10/1/14. As a percentage of VNO.PRL's recent share price of $23.67,...
SeekingAlpha  Sep 8  Comment 
By Reuben Sushman: According, to Van Eck, the ETF administrator: The Market Vectors Preferred Securities ex Financials ETF, (NYSEARCA:PFXF), seeks to replicate as closely as possible, before fees and expenses, the price and yield performance...
Forbes  Sep 8  Comment 
On 9/10/14, Winthrop Realty Trust's 9.25% Series D Cumulative Redeemable Preferred Shares (NYSE: FUR.PRD) will trade ex-dividend, for its quarterly dividend of $0.5781, payable on 9/30/14. As a percentage of FUR.PRD's recent share price of $25.52,...
SeekingAlpha  Aug 30  Comment 
By Left Banker: I've been working on an exercise to construct a double-digit income portfolio. The goal is to generate income in excess of 10% with a reasonable degree of confidence for modest capital growth at the portfolio level. In doing so, I...
Forbes  Aug 26  Comment 
On 8/28/14, RAIT Financial Trust's 8.375% Series B Cumulative Redeemable Preferred Shares (NYSE: RAS.PRB) will trade ex-dividend, for its quarterly dividend of $0.5234, payable on 9/30/14. As a percentage of RAS.PRB's recent share price of $25.42,...
Forbes  Aug 11  Comment 
On 8/13/14, Kayne Anderson MLP Investment Company's 4.25% Series E Mandatory Redeemable Preferred Shares (NYSE: KYN.PRE) will trade ex-dividend, for its monthly dividend of $0.0885, payable on 9/1/14. As a percentage of KYN.PRE's recent share...




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Preferred Stock, or preferred shares, refer to shares in a company that carry different rights than common stock. Both types of shares represent the holder's stake in a company, however holders of preferred stock have a claim on a company's assets and earnings before the holder of common shares. This means that holders preferred stock will be paid dividends before the any common shareholders and, in the case of liquidation or bankruptcy, the preferred shareholders will have a claim on the assets of a company before the common shareholders.

In the U.S. there are two types of preferred stock: convertible preferred shares and straight preferred shares. Convertible preferred shares give the holder the right, but not the obligation, to exchange their preferred shares for a common stock at a fixed price, after a specific date. Straight preferred shares simply give the holder rights that common shareholders do not have.

These rights can include things like a pre-determined dividend payment (which could be either fixed or floating), or special voting rights. The rights of preferred stock will vary from company to company, but the general idea is that the preferred shareholders pay a premium for the right to the to an earlier claim on a company's assets or earnings. In this sense, preferred shareholders are paying a premium to receive less risky shares in a company.

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