RILYI - Franchise Group Preferred: 7.5% Qualified Yield From A Dividend Grower

• FRG owns a portfolio of retail businesses that are performing well and provide the company franchising opportunities.
• The preferred stock yields 7.5% and is well covered by common stock equity and free cash flow.
• The company is conservatively leveraged and growing its dividend and share price.
• Insiders with a strong track record in private equity investments in the retail space own 43% of the common stock.
• A secondary issuance of preferred stock has created an opportunity to buy the preferred below par.

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