The new perpetual preferred stock issue from shipping container lessor Textainer Group Holdings Limited (TGH) has been priced.
The issue prices with a fixed rate coupon of 6.25%.
The issue is unrated, cumulative and qualified. The optional redemption period begins on 12/15/2026.
The issue trades immediately under the OTC grey market ticker TGHPV. This ticker will change in a day or two to a new OTC grey market ticker.
The pricing term sheet can be read here.
https://www.otcmarkets.com/stock/TGHPL/overview
ticker change TGHPL
If you search the security name in the quote box, it will show the new ticker symbols.
It is trading at schwab – even on the “normal” platforms.
this may not be dividends this year. follow this page.
click on the preferred tab
https://investor.textainer.com/dividends-0
You will get paid; it may be ROC instead of dividends but you will get paid.
Why would anyone want a ROC paying preferred? Now off 26¢ from the high.
It’s not a destructive ROC so I don’t know why would I object to it. Most MLP preferred are the same.
Ok… but why is it not destructive? Is their NAV steady or going up? It’s easier to see with CEFs. But- no income this year, and not destructive?
ROC has use only in a taxable account, I imagine most are investing more in advantaged accounts.
thanks for any more info-
Anyone know why?
thx
Was going to place a buy order for this at Fidelity. However, they are applying a $50 foreign security transaction fee to each trade.
Gary–thought that might happen with some of the brokers.
not at E-Trade $6.95 commission