Preferred'sWhile this market carnage is underway, it's worth taking a look at Altagas's Preferred shares, which have been beaten up as much as the common stock over the past few weeks. In particular, the Series E and Series G look appealing. Series E is currently trading at $11.34 while paying a quarterly dividend of $0.34, for a yield of 11.9%. Series G is currently trading at $9,44, with a quarterly dividend of $0.27 (yielding 11.23%). Both Series recently reset, so that return is guaranteed for the next 3 3/4 years (for Series E) and 4 1/2 years (for Series G).
Series E will reset at the Five-Year GoC rate on Dec 31, 2023 + 3,17%, Series G will reset at 5-Yr. GoC + 3.06%.(dividends calculated based on combined percentage applied to original $25 issue price). Both Series are cumulative (if ALA misses dividend payments on either series they would first have to suspend the common dividend entirely and would then have to make up any missed preferred dividends until they could start paying it again). . .