Below are press releases from companys with baby bonds and/or preferred stock issues outstanding. Or just news of general interest.
Ready Capital Expands Partnership with Esusu, Donates to the Stable Home Fund
![View Press Release](https://mms.businesswire.com/media/20231213421927/en/440092/21/Logo-Broadband_4c.jpg)
![View Press Release](https://mms.businesswire.com/media/20231213987357/en/683103/21/site-horzlogo-gradient_rgb.jpg)
SITE Centers Declares $0.16 Per Share Cash Special Dividend
![View Press Release](https://mms.businesswire.com/media/20231213065806/en/405399/21/TheHartfordLogo.jpg)
The Hartford Declares Quarterly Dividend Of $375 Per Share Of Series G Preferred Stock
![View Press Release](https://mms.businesswire.com/media/20231212456442/en/1691798/21/MFA-logo.jpg)
MFA Financial, Inc. Announces Dividend of $0.35 per Share
Arlington Asset Investment Corp. Announces Intention to Delist Notes from the NYSE
Arlington Asset Investment Corp. Shareholders Approve Merger with Ellington Financial Inc.
![](https://innovativeincomeinvestor.com/wp-content/uploads/2023/12/image-14.png)
NexPoint Real Estate Finance, Inc. Announces Preferred Stock Dividend
![Huntington Bancshares Incorporated logo (PRNewsfoto/Huntington Bancshares Incorpora) Huntington Bancshares Incorporated logo (PRNewsfoto/Huntington Bancshares Incorpora)](https://mma.prnewswire.com/media/551870/Huntington_Logo.jpg?w=200)
Huntington Bancshares Incorporated Declares Cash Dividend On Its Series I Preferred Stock
Preferred Bank Announces Increased Cash Dividend
Rithm Capital Corp. Declares Fourth Quarter 2023 Common and Preferred Dividends
![Texas Capital](https://www.globenewswire.com/news-release/logo/1172127/0/1172127.png?lastModified=07%2F13%2F2023%2007%3A09%3A00&size=2)
Bankrate Recognizes Texas Capital as the Best Regional Bank in 2024
LifeMD and Medifast Partner to Offer Transformative Weight Management Solution
Thanks. I’m hoping it drops as well and am a bit surprised it hasn’t already. What is RIA? Thanks again.
Reader Initiated Alerts
Already own AIC, so I’m not hoping it drops a lot, but if it does, I’ll be ready.
All a matter of perspective. I got out of AIC yesterday at about $24.20 (late, because I wasn’t paying attention).
I expect AIC to drop significantly as we get closer to the closing (combination of tax loss harvesting, institutionals/funds that can’t own dark securities, panicky sellers who think the sky is falling…), when I hope re-enter for a modest amount of AIC at a better price/yield.
I think EFC is probably solid enough to survive for 15 months.
I could be wrong on this in so many ways, but I think it is worth the risk if the yield gets up significantly from where it is now.
If it doesn’t work out, I will just put the money somewhere else (I noticed that PCG preferreds are at above 7.5% – and although I hate the company, I have surrendered to my greed and will own their preferreds).
Some good news for any ENB preferred holders out there…helps pay for the big gas acquisition:
News
BRIEF-Enbridge Announces $3.1 Bln Sale Of Its Interests In Alliance Pipeline And Aux Sable
5:37 PM ET, 12/13/2023 – Reuters
Dec 13 (Reuters) – Enbridge Inc:
* ENBRIDGE ANNOUNCES $3.1 BILLION SALE OF ITS INTERESTS IN ALLIANCE PIPELINE AND AUX SABLE
* ENBRIDGE INC – ENBRIDGE’S 2024 FINANCIAL GUIDANCE AND NEAR-TERM GROWTH OUTLOOK THROUGH 2025 REMAIN UNCHANGED
* ENBRIDGE INC – PROPOSED DEAL INCLUDES NON-RECOURSE DEBT AT ALLIANCE OF APPROXIMATELY $0.3 BILLION, AND SUBJECT TO CUSTOMARY CLOSING ADJUSTMENTS
* ENBRIDGE INC: AS PART OF TRANSACTION, PEMBINA AND CURRENT OPERATOR OF AUX SABLE, WILL ALSO ASSUME OPERATORSHIP OF ALLIANCE
* ENBRIDGE INC- SALES PROCEEDS WILL FUND A PORTION OF STRATEGIC U.S. GAS UTILITIES ACQUISITIONS AND BE USED FOR DEBT REDUCTION
* ENBRIDGE INC: ENBRIDGE’S 2024 FINANCIAL GUIDANCE AND NEAR-TERM GROWTH OUTLOOK THROUGH 2025 REMAIN UNCHANGED
* ENBRIDGE INC – AGREEMENT TO SELL 50.0% INTEREST IN ALLIANCE PIPELINE AND 42.7% INTEREST IN AUX SABLE TO PEMBINA PIPELINE CORPORATION
https://www.enbridge.com/media-center/news/details?id=123793&lang=en
https://www.arlingtonasset.com/2023-12-13-Arlington-Asset-Investment-Corp-Announces-Intention-to-Delist-Notes-from-the-NYSE
There is a long thread on AIC/AAIN on RIA.
AIC matures on 3/15/2025.
At a price of 24.05, I calculate a YTM of 10.0% as of today. If I’m planning to hold to maturity anyway, I’m not overly concerned about the delisting. I also like the 15 months to maturity. It’s long enough to give the 10% YTM some real meaning, but short enough to reduce the probability of something going seriously wrong. The ~$35 million of AIC outstanding is not much more than a rounding difference for EFC when redemption time comes.
Some think that the delisting may cause a further drop when the ETFs rebalance at the end of the month. If so, I’ll be adding.