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Old 03-26-2021, 09:38 AM   #241
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Originally Posted by Sunset View Post
For me, it's 2 separate payments amounting to 37.5 cents per share in total.
Here's how mine looked:

Quote:
03/15/2021
Special Dividend
SPLP+A
STEEL PARTNERS HOL 6%PFD DUE 12/31/49SUBJ TO XTRO REDEMPTION


03/15/2021
Cash Dividend
SPLP+A
STEEL PARTNERS HOL 6%PFD DUE 12/31/49SUBJ TO XTRO REDEMPTION
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Old 03-26-2021, 03:43 PM   #242
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Here's how mine looked:

Kind of odd how this preferred is acting like a dog. I have been buying and flipping all sorts of crap issues and they keep bouncing and running. Yet this one is woof woof barely break even since I bought last month including the divi payment.
Almost tempted to buy more..... My CEQP- bounced nicely today on them simplifying their MLP structure and announcing buybacks of common and preferreds.
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Old 03-26-2021, 04:52 PM   #243
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Kind of odd how this preferred is acting like a dog. I have been buying and flipping all sorts of crap issues and they keep bouncing and running. Yet this one is woof woof barely break even since I bought last month including the divi payment.
Almost tempted to buy more..... My CEQP- bounced nicely today on them simplifying their MLP structure and announcing buybacks of common and preferreds.
I think it's the company name. Very misleading as to their business.
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Old 03-31-2021, 07:34 AM   #244
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RILYZ getting called today. I'm in it at an average of $23.99, so don't hate it. Just need to find somewhere to redeploy
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Old 04-04-2021, 05:03 PM   #245
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I had read the Quantumonline statement, but here is my issue:
I have some SPLP-A in an IRA/ROTH, so I can due to the small amount, ignore the tax treatment of partnership and other tax treatments.

That might not be the same in a regular account, if someone tells me they have some similar stock in a regular account and it causes a lot of paperwork I'll skip buying it in a regular account.

Maybe I'm worried about nothing, but I don't want to spend 2 extra hours on taxes when I can just buy a different stock.
I finally got my Steel Partners K-1 form.
Glad I have all this in a Roth so I can ignore filling out the forms

I've decided I'm not buying this in a regular account.
I didn't try filling out the forms for the K-1 , but it sure looks complex from all the information they gave me, and the 23 page booklet of instructions didn't help make it look easier
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Old 04-04-2021, 07:50 PM   #246
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I finally got my Steel Partners K-1 form.
Glad I have all this in a Roth so I can ignore filling out the forms

I've decided I'm not buying this in a regular account.
I didn't try filling out the forms for the K-1 , but it sure looks complex from all the information they gave me, and the 23 page booklet of instructions didn't help make it look easier
You can ignore the paperwork if held in a tax deferred account, the trustee handles that paperwork. If you use Turbo Tax they walk you through in a few minutes. Easy Peasy.
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Old 04-04-2021, 09:02 PM   #247
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Hi All.. i've been lurking this thread for, well a long while. In my down time I do go back and read through of the the previous thread too. There is a lot to absorb!

I've dabbled with some preferreds in my my Roth, and they have done well. So, thank you! (the collective you) I admit, I am more of a Buy & Hold guy, as opposed to just capturing dividends. I am in the accumulation phase, FIRE is still a few years away.

The Spring of 2020 I purchased some divi paying commons at a nice discount. Most are YOC of 8-10%, with cap gains in the 40%+ range. After you finish chiding me for market timing, can someone help explain the difference in inherent risks with this type of common stock purchase v. preferred stock purchases? I understand market risk & slashing of dividends.

In my mind, 2020 was a fire sale. I was fortunate to have cash on hand to pick up some amazing deals. I appreciate that it will probably be a once in a lifetime event, but never say never, right??
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Old 04-04-2021, 09:38 PM   #248
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You can ignore the paperwork if held in a tax deferred account, the trustee handles that paperwork. If you use Turbo Tax they walk you through in a few minutes. Easy Peasy.
After tax season, I suppose I should take a copy of my taxes and pretend I have the K-1 holdings in a regular account to see how easy/difficulty it really would be.
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Old 04-08-2021, 07:58 AM   #249
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Not sure I understand the logic in BDXB preferred. It looks like a $50 call value trading over call, but the writeup on it tells a different story. Anyone understand this preferred? I like BDX

BDXB Becton, Dickinson ADRs of 6.00% Mandatory Convertible Preferred, Series B
Dividends will be payable on a cumulative basis when, as and if declared by our board of directors or an authorized committee thereof, at an annual rate of 6.00% on the liquidation preference of $1,000 per share. We may pay declared dividends in cash or, subject to certain limitations, in shares of our common stock, par value $1.00 per share (our “common stock”), or by payment or delivery, as the case may be, of any combination of cash and shares of our common stock, at our election, subject to certain limitations, on the first business day of each of March, June, September and December of each year, commencing on September 1, 2020 and to, and including, June 1, 2023. Unless earlier converted, each share of the Mandatory Convertible Preferred Stock will automatically convert on June 1, 2023 (subject to postponement in certain cases, the “mandatory conversion date”), into between 3.4722 and 4.1666 shares of our common stock, subject to anti-dilution adjustments, depending on the average VWAP (as defined herein) per share of our common stock over the 20 consecutive trading day period beginning on, and including, the 22nd scheduled trading day immediately preceding the mandatory conversion date. At any time prior to the mandatory conversion date, a holder of 20 Depositary Shares may cause the bank depositary to convert one share of our Mandatory Convertible Preferred Stock, on such holder’s behalf, into shares of our common stock at the minimum conversion rate of 3.4722 shares of our common stock per share of Mandatory Convertible Preferred Stock, subject to anti-dilution adjustments. This security was issued by Becton Dickinson, whose common stock symbol is BDX.


I think I just figured it out, it is 20 times $50 or $1000 which can convert to BDX. So its over-valued based on that!
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Old 04-08-2021, 09:04 AM   #250
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Yes, each BDXB share represents a 1/20th interest. This summary may be more intuitive for you. And the number of shares are also 1/20th.... 0.1736 @ $288.00 to
0.2083 @ $240.00

https://www.quantumonline.com/search...XB&sopt=symbol
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Old 04-08-2021, 09:15 AM   #251
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I will be getting my first preferred shares of my life in a few weeks. Not really what I intended, but that's the way the cookie crumbled. I have common shares and the company is going through a bankruptcy in order to get out from under a pile of litigation. Once free of that liability, it should continue to be a viable business. But the point is that the best value proposition includes exercising rights to preferred shares, so that's where I'm going. Reluctant member of the preferred shares club.
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Old 04-08-2021, 09:25 AM   #252
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Thanks.
I wrote a put against the common, if I get put in I will hold.
I think with all the covid shots and boosters, BDX is a buy!
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