Post by
tylerreddick on Jul 15, 2024 11:52am
AX preferred shares a buy?
They are yielding almost 10%, just wondering if that indicates any concern from those types of investors?
Thanks for any insight.
Comment by
InvestSmarter on Jul 15, 2024 12:05pm
Well, 30 seconds later 200+ Million in asset sales are announced and proceeds will be used to pay down debt lol
Comment by
rad10 on Jul 15, 2024 1:43pm
We have held both series for some time. Very good holding. Double digit qualified dividend income - simpler than distributions from the units. SIB likely, but also may get called thereafter depending upon how many are left. I don't think too far out - equally happy if they are reset. We'll just continue to hold.
Comment by
luscar99 on Jul 15, 2024 5:17pm
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Comment by
rad10 on Jul 16, 2024 8:25am
I think we may be confusing eligible and qualified. I'll check with our accountant - mid term holding, so definitely qualified. Unsure about eligible status. It's a cash distribution according to the company.
Comment by
luscar99 on Jul 16, 2024 9:25am
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Comment by
rad10 on Jul 16, 2024 12:12pm
It's a dual national thing. Qualified refers to duration of hold and source. Dividend harvesting is taxed as regular income on a 1099. Preferred are qualified, regular REIT units income usually aren't.