Below are press releases from company’s with preferred stock and/or baby bonds outstanding–or just news of general interest. News will be rather slow until the the end of the quarter and the start of earnings season in early October.
Chimera Increases Third Quarter 2024 Common Stock Dividends to $0.37
Dime Enhances Middle Market Lending Presence on Long Island
Home prices move higher as inventory shrinks once again in New York
Mortgage Rates Continue to Tumble
GAMCO Investors, Inc. Announces Special Dividend of $2.00 per share
SL Green Realty Corp. Announces Common Stock and Preferred Stock Dividends
Two Harbors Investment Corp. Announces Third Quarter 2024 Common and Preferred Stock Dividends
Allstate Announces August 2024 Catastrophe Losses
PennyMac Mortgage Investment Trust Declares Third Quarter 2024 Dividend for Its Common Shares
Tim, looks like you have an error on your floating rate spreadsheet for MBNBK, the rate doesn’t reset until 2025 and is still at 8%
Also in the same spreadsheet:
NGL-B and NGL-C no longer have suspended dividends per the link you provided.
The spread on FTAIO is 6.447%, not 6.886%.
What happens to the preferred of EQC ? Think they still have 2 billion in cash and whatever is the value of their 4 properties so what would that come out to per share?
It’s all academic to the preferred, C… they’ll get the liquidation preference plus accumulated with everything else going in stages to the equity holders.. Preferreds will be paid off in 30 days after approval of the plan approx – https://www.sec.gov/Archives/edgar/data/803649/000080364924000065/eqcpreliminaryproxy-specia.htm
No timetable for the vote appears to have been set yet.
If our shareholders approve the Plan of Sale proposal, we anticipate first paying the liquidation preference to the holders of our 6.50% Series D Cumulative Convertible Preferred Shares of beneficial interest, par value $0.01 per share (the “Series D Preferred Shares”) and then making an initial cash distribution to our common shareholders, in each case, within approximately 30 days following such approval. The amount of the initial cash distribution to our common shareholders is anticipated to range from $18.00 to $19.00 per share. In total, including the initial distribution and any subsequent liquidating distributions following the closing of the sale of our remaining office properties, we estimate our shareholders will receive aggregate liquidating distributions from EQC that will range from $19.50 to $21.00 per share. We anticipate transferring any remaining cash and cash equivalents to a Liquidating Entity (as defined in the accompanying proxy statement) after we have sold our remaining office properties, but we cannot be certain of that timing.