No. of Recommendations: 10
Bill
At the expense of sounding nit-picky, preferred stock are not 'called', they are 'redeemed', and there is a difference. 'Call' is what happens to some bonds and it will be based primarily on the price of the bond. Redemption has nothing to do with price, but is based upon management's projected cost of capital. Interest rates are the most likely cause of a redemption (less annual expense to redeem and reissue a preferred stock at a lower dividend rate), but it can also be due to gradually improving company fundamentals leading to a higher credit rating and the ability to restructure capital financing using debt or even equity in place of fixed dividend preferred stock. This is likely why some preferreds are redeemed in a rising interest rate environment.

Almost all preferred stock are issued with a period of non-redemption....usually 5 years. That is why one must be careful in paying more than the redemption price per share if the preferred issue is at or near its 5 year anniversary.

But back to your original question. The Preferred Stock Channel is a good place to go to screen for preferred issues that will fit your need.

https://www.preferredstockchannel.com/screener/

BruceM
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