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Non-Tech : Income Investing
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To: bodiddley1953 who wrote (51772)12/31/2024 12:28:00 PM
From: Area51  Read Replies (1) of 52117
 
The other issue with HFRO-A is that HFRO has said they are going to offer to convert HFRO into a new preferred issue similar to HFRO so that you can exchange 100 shares of HFRO into 40 shares of the new preferred so gives you a cost basis of 13.45 (538/40 based on current HFRO of 5.38) for the new preferred. But increases their debt so will no longer be A rated (not sure but Moodys or such may have already downgraded?). The offer is limited so you won't be able to convert 100% of shares.

The income stock that interests me more today is GSBD. yields 15% and has good dividend coverage. They do have debt maturing next year that will increase their cost of funds so that good dividend coverage may disappear, but I think its possible they won't need to cut the dividend (or at least won't need to reduce the dividend very much). Plus went ex-div today and a lot of people likely wanted the dividend, but want the tax loss today.

Happy new year!
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