Preferred shares are shares issued by a corporation as part of its capital structure.
Preferred shares normally carry no voting rights (unlike common shares). Dividends are either cumulative or non-cumulative. Cumulative means that
dividends continue to accrue if they have been suspended, but they are not paid until the company decides to pay them after suspension. Non Cumulative
means they do not continue to accrue (they are gone forever). In either case if the dividends are suspended the company is likely in deep financial trouble.
Preferred shares are senior to common stock, but junior to all bonds.
Dividends are paid quarterly
Most of the issues are $25, $50 or $100 issues and are generally callable at those prices (plus accrued dividends) The earliest call dates are given
below.. The issues generally have no maturity date.
PLEASE NOTE - $50 and $100 issues are not very liquid and many days do not trade at all. It is generally easiest to secure $25 issues.
Note that the issuer generally has the right to defer dividend payments on most of these issues. This happens only when the company (issuer) is in severe
CAUTION----CELLS THAT ARE RED in the Current Yield Column INDICATE A SUSPENDED DIVIDEND OR A HIGH RISK ISSUE
A link on the ticker symbol will open the company website in a new page
A link on the security description will take you to a security summary and other links
NOTE--Prices and current yields may be delayed 20 minutes