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We have corrected the ticker which has been changed from the planned ticker. The new OFS Capital baby bonds (NASDAQ:OFSSL) will begin trading today.  Of course depending on your broker they may or may not have their database updated. OFS is a business…

While the number of preferred stocks paying monthly dividends grows smaller and smaller there remains a group paying that way and some of them are our favorites. Our listing is complete (I think) and includes just preferreds. Of course many of the issu…

BDC New Mountain Finance (NYSE:NMFC) has announced it is seeking approval from shareholders to lower their asset coverage ratios from 200% to 150%.  The change would be effective in about a year. NMFC claims this will allow them to “earn their dividend…

As I suspected would happen we didn’t see the 10 year treasury spend too much time in the 2.70’s%. After spending almost the entire month of March in the 2.80-2.90% area rates fell into the 2.70’s in later March and into the first 7-8 days of April. Th…

Dynagas LNG Partners (NYSE:DLNG) has cut their quarterly distribution from 42.25 cents to 25 cents.  DLNG is an owner of a small fleet (6 ships) of LNG ships. Dynagas has 1 preferred issue outstanding and shares fell 40 cents today, while the common un…

Huge MLP Energy Transfer Partners (NYSE:ETP) has priced a large offering of fixed-to-floating rate units with an initial coupon of 7.375%.  The fixed rate will remain until 4/2023 at which point the coupon will float quarterly at a rate of 3 month Libo…

Energy Transfer Partners (NYSE:ETP) will be selling a new fixed-to-floating rate preferred.  The issue will generate a K-1 at tax time. The issue has not yet been priced, but will have a 5 year optional redemption time frame–this is a bit unusual as m…

6:30 am Specialty finance company Eagle Point Credit Company (NYSE:ECC) has priced their new baby bonds at 6.6875% with a maturity in 2028. The ticker for this new issue will be ECCX and it should trade later this week or early next week.  No OTC Grey…

We have updated our list of preferred stocks that have been issued by REITs. While REITs offer cumulative preferred stocks they are NOT qualified for preferential tax treatment. We believe our list is now up to date and 98% complete.  There are always…

Specialty finance company Eagle Point Credit Company (NYSE:ECC) will be issuing a new baby bond with a maturity date in 2028.  They will issue 2,000,000 shares plus another 300,000 to be reserved for overallotments. Pricing has not been announced as of…

Interest rates started the day off 3 basis points higher, but now have drifted back down as there is no impetus to go higher at this point in time.  Not much news of consequence although retail sales were announced higher than anticipated–up 6/10% ver…

Last week ended on a mild note with Friday being a down day, but it was calm and orderly-just the kind of day we like. Last week the DJIA traded in a range of about 23,740 to 24,600 which is a pretty large range, but less volatile than the 1200 point r…