has anyone else noticed that all the mreits are issuing lots of prefs as a good source to adjust their cost of capital - nymt just did so the other day - 10mil shares or 20mil shares - so what - so $250mil extra dollars
now if someone wants to say they believe that agnc is doing so as they need cash to pay current divi - then why not say so - but using prefs is a good way to smooth things out a bit.
nymt has been stable mitt good stable divi - they issued prefs - so did they do so because they needed the money to pay the divi - heck mitt has $2.00+ of undistributed monies so they clearly didnt need to issue prefs but did so because they saw it as an advantage.
Preferred shares are long term Debt. I did not know the BOD has to get common stockholders permission to take on debt. I think I will have my lawyer investigate this investigation. W.E. Fleesom & Howe will get to the bottom of this.