Below is a small table that has SOME of the available $50 and $100 preferred stock issues. Most of the time these issues are held by “buy and hold” owners.
Currently we only have a few convertible issues on the list. We will be adding more as time allows.
As we have noted before many times these shares are fairly “illiquid” meaning they seldom trade. Simply by looking at the chart you can see that many do not trade at all on any given day. A potential buyer of these issues has to have patience and be persistent and it should go without saying that “limit” orders MUST be used or there is a strong chance you will dramatically overpay for your shares.
Potential buyers should note that while these issues seldom trade they are in fact affected by interest rate movements and some of the issues on this page have traded for 1/2 of their current prices. Don’t be lulled into thinking that just because they seldom trade that they have NO volatility–they do.
Note that virtually all of these issues are cumulative in respect to dividends. The issues from Agribank and CoBank are NON-CUMULATIVE. Additionally issues pay qualified distributions.