PKS-b, ACAS, ALD, CEI-a
a good write up on the VIC website. If this link does not work, search for PKS-b not PKS.
valueinvestorsclub.com
The preferred is redeemable 2004 and MANDATORY maturity in 2009. AT $25.
It around a 20% return at today's prices.
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I still own a lot of FR-d. Also NNN-a, CLP-c, CWN-a, PPS-b, FRT-b...
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There are a lot of preferred that are redeemable now, or over the next few years. Look at at CEI-a. Redeemable 2-13-03.
finance.yahoo.com
Price is $19, redeemable at $25. Looks like they are not going to redeem it -- if they do it's a huge windfall. Until then 8.9% yield -- forever. I can't figure it out.
All I can figure out is that if they redeem it at $25, they'd have to issue new shares at a higher rate. The cost to them now is $1.69 dividend / $25 = 6.7%. So they're evidently happy paying the dividend at 6.7%.
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And if you are looking for yield, check out ACAS, (and ALD too). Great yield, insider buying, high short interest, wonderful history, it's my largest holding.
messages.yahoo.com
acas1.com
The short interest is especially reassuring. They shorts have lost their shirts so far, and it should be much worse for them as they try to cover. The shorts have around 40% of the float.
messages.yahoo.com
good luck,
grommit |
