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Wells Fargo has sold a new non cumulative preferred stock issue.The issue is investments grade and carries a coupon of 6%---not a huge coupon, but a super solid banking company. The issue is perpetual so will show some price movement when/if interest rates begin to rise.  A long term, conservative investor could sleep well at night with this issue if…

Date Issued  9/8/2015Shares Offered  36,000,000 Overallotment Shares 4,000,000S&P Rating   BBB   Moodys Rating   Baa2Security Ticker Symbol   WFC-V  OTC Temp Ticker  WLFGPMarket Traded ON   NYSEDividend Payment Paid on the 15th of March, June, September and December beginning on 12/15/2015Quarterly Dividend   .375   Annual Dividend   1.50Securities may be redeemed, at the issuers option, as early as 12/15/2020 for a redemption price of $25/share plus accrued…

100 times--no maybe 1000 times we have witnessed writers on Seeking Alpha refer to Baby Bonds (Exchange Traded Debt) as preferred stocks--it makes us down right crazy.  Is a common stock a preferred stock? Is common stock a bond?  Of course not! Is a baby bond the same as a preferred stock?  NO!So why does it matter?  It is basic,…

S&P Rating   NR   Moodys Rating   NRSecurity Ticker Symbol   IRC-BMarket Traded ON   NYSEDividend Payment Paid on the 15th of each month beginning on 11/17/2014Monthly Dividend   .145   Annual Dividend   1.7375Securities may be redeemed, at the issuers option, as early as 10/16/2019  the call price is $25 plus accrued dividendsDividend Payment NOT will be Qualified DistributionsMaturity Date   None Company Investor Relations Page for Inland Real…

We had held the 7.25% senior notes (ticker:MVCB) of business development company (BDC) MVC Capital in all of our Model Portfolios since inception of each of the portfolios and being conservative folks we have now sold all positions in MVCB.For those that haven't followed MVC Capital (ticker:MVC) they have not filed their 10-K for 2014 as of yet and subsequently…