2015 common dividend = 99.923% ROC. Whoopee!!! I overpaid my estimated taxes. No estimated tax payment in April.
Preferred dividends = 100% taxable, BUT 53.781% are qualified for special tax rate.
Here is an example of why preferred stock is good for common stock tax-wise. Preferred carries out taxable income first. Preferred dividends are 100% taxable before the first penny of common dividend is taxable.