You are 100% right and I owned a BBT and think I might have lost a couple of dollars ( litterally a couple of dollars) after divi payment vs premium paid. They called the issue before the scheduled first call date.
Also you must be careful about buying over $25 because of the scheduled call date... Now because I have Bloomberg professional, I am able to see YTC (Yield to call) meaning if I buy a preferred with an 8% coupon and I pay a premium, say $27 and the next call is in in 1 month I could lose money or have a negative YTC if in fact it is called next month..
The common investor cannot see this on yahoo. for example. The Mreit MFA has a pref Seiries A that has a 8.5 coupon and trades today at 25.69 it can be called next month (30 days notice) Now the common investor will see 8.27 yield. Thats the current yield. But the yield to call is -17.69 ( thats annuallized) which means if you buy it today and they announce tomorrow that they will call it next month you will only get back $25.
Thats why I mentioned I wouldnt buy many of these at today's prices.