T - Liberty Broadband Preferreds Are An Uncommon And Solid Telco Income Play

• At the end of 2020, GCI Liberty was acquired by Liberty Broadband. When the deal went into effect, GCI Liberty common and preferred stock were replaced by Liberty Broadband securities.
• The new Liberty Broadband preferreds, replacing the GCI Liberty preferreds, are a decent telco income play, with an uncommon mandatory redemption at par, which is set for 2039.
• The Liberty Broadband preferreds dropped in price somewhat since they started trading. They haven't had Seeking Alpha coverage until now, but they deserve attention because of the attractive 6.4% yield.
• Income investors, looking to benefit from the reliable cash flow of a mature telco, can definitely consider buying and keeping the Liberty Broadband preferreds until they mature.

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