Dividends4Life: The Best Fixed Rate Preferred Stock

The Best Fixed Rate Preferred Stock

Posted by D4L | Saturday, June 04, 2016 | | 0 comments »

This is the first in the series of articles that will search for the best possible preferred stock in each of the different categories. To start with, we will concentrate on finding the best fixed rate preferred stock with a rating by Standard and Poor's.

Wells Fargo & Co.,(NYSE:WFC) 7.50% Non-Cumul Perp Conv Cl A Preferred Stock, Series L (WFC-L). This is currently my number one pick in the preferred stocks as far as safety and yield are concerned. There is nothing spectacular in the fixed rate rated preferreds. I am surprised that the best pick I found is a BBB perpetual stock with a 6% current yield and significant interest rate risk. This may suit your investment criteria, but in my opinion, it is definitely not the time to load up on these prices.

Source: Seeking Alpha

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