This goes Ex-Div in a little less than 1-week. Do you think this will be the last dividend? These are callable at $25 par starting in February. Almost 8% seems like a high cost of capital for BAC in today's environment. Any thoughts on this? I ma new to trading in the last 2 years, and this is the first preffered position I have owned. If this is callable after Feb, then this is a sell anywhere above $24.999 after next week. Certainly a sell at $25.7x, either way
Just as I predicted back in January, B of A has announced that they are calling this issue. It will be replaced with a series U issue. I expect that the dividend rate will be significantly lower than 7.25 percent.