Category: Series
The Power of Dividends Part II: Bank Preferreds
As we all deal with continued market volatility, inflation, and other economic headwinds, qualified dividends can be a great strategy for your portfolio. This is the second in a two-part series discussing possible dividend strategies. So, what are the main benefits we can expect from qualified dividends? There are three things you should consider when adding qualified dividends to your portfolio. First, they can be a major contributor to total return. Second, you need to carefully vet the quality. And third, they can have very beneficial tax treatment. There are many types of dividend-paying stocks, but there are two that are particularly timely: bank preferred shares, and oil and gas exploration and production. Last week, we discussed Oil and Gas E & P, and we know from the number of calls we received, that many people were interested. This week, we’ll talk more about bank preferreds. These are particularly timely as a strategy because many banks are flush with cash as a result of the stringent regulations after the financial crisis of 2008. These are currently attractively priced, and let you lock in your yield for at least 5 years – but possibly much longer. That doesn’t mean your money is tied up though because they can be sold any time. And preferred shares typically decline in price as interest rates rise, so substantial discounts are already available. When you purchase at a discount to par, your total return
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