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Non-Tech : Income Investing

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E_K_S

To: Elroy who wrote (52049)	11/6/2025 4:26:43 PM
From: Privately	1 Recommendation Read Replies (1) of 52115

Re: NGL-B and NGL-C preferreds Elroy and I have discussed these NGL preferreds on this board a couple of times. They are not your "classic" lower risk income investment vehicles. NGL got themselves in trouble and had to suspend divi's for about 3 years (IIRC). they did pay the arrearage last year. As Elroy points out, NGL has to pay off the (non-publically traded) D preferred in 2027, so that may be a balance sheet challenge that increases the risk to the A and B shares (depending on what they do to retire the D). I will admit, I have spent no time crawling through their balance sheet - just pointing out the math of paying off another preferred. Personally, I wouldn't even hold the C or D in my high risk bucket, but that is just me. If you are interested, do your own diligence. If you are just chasing yield, things like KRP pay about the same as the NGL preferreds, as does TECTP (last I looked). VERY different companies, but high yields.... Some of the banks (MBINx) and even a few of the utility preferreds are paying above 8% at what I perceive to be much lower risks. Again, not a recommendation (I don't ever recommend stocks) - just an observation.

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