No. of Recommendations: 0
<<Howeverm I'm always on the lookout for a better alternative. Does anyone know of one?>>

Look at preferred stock issued by closed-end funds. Source Capital Preferred (SOR-) trades on the NYSE and currently yields about 8%. SOR is a well-established fund and its preferred dividend is more than adequately covered. General American Investors and Royce Value also have preferred shares. Furthermore, if taxes are a consideration, a portion of the dividends are taxed at capital gains rates.

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