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Non-Tech : Income Investing

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From: codger1/31/2019 1:12:57 PM
1 Recommendation

Recommended By
Graustus

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Bought Tsakos TNP-C 8.875% coupon preferred @$24.95. Issue is past call and "failure to redeem" clause kicks in 10/30/2020, at which time dividend goes up 1.25 X div annually up to 30%. I feel confident that TNP-C will be redeemed before 10/20/2020. Meanwhile price should hold around $25 and pay 8.875%.
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