PMTU notes coming- will pay 8.50% | Preferreds Message Board Posts


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Msg  1839 of 2090  at  9/28/2023 12:15:45 PM  by

lumpygravy


 In response to msg 1830 by  lumpygravy
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Re: PMTU notes coming- will pay 8.50%

Made several purchases today in the IRA of PMTU at $24.40. 
 
First interest payment due on 12/30 but that's a Saturday so don't know
if they would pay it a day early, or wait until 01/02/24 to pay.
 
Also bought a bunch of NEP this morning in the taxable account
with a current yield of 11%. Haven't owned this one in years. Stock
has been annihilated yesterday and this morning. 
 
Per their press release, the dividend growth will slow to 6% but who 
cares? At 11% I'm be happy to accept lower growth. Some folks
must believe that the dividend will be cut. Not so!
 
"NextEra Energy Partners now expects the annualized rates of its
third-quarter 2023 distribution per common unit to be $3.47, payable
in November 2023, and its fourth-quarter 2023 distribution per
common unit to be $3.52, payable in February of 2024."
 
Very heavy volume the last 2 days and the shares could still face 
pressure later in the year due to tax-loss selling. 
 
Trading around $31 right now, but 52-week high was over $80!


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Replies
Msg # Subject Author Recs Date Posted
1840 Re: PMTU notes coming- will pay 8.50% brehm233 2 9/28/2023 1:28:58 PM




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