CMS - New Preferred Stock IPOs March 2018
The March 21 hike in the federal funds rate had the predicted result on preferred stock market prices, pushing yields up and prices down just prior to, as well as after, the announcement. After February’s lull in new preferred stock introductions, March was a more normal month in that regard with eight new issues.
March’s new issues
March’s eight new preferred stocks are offering an average annual dividend (coupon) of 6.8 percent. Here are the eight new issues introduced during March for the consideration of preferred stock investors.
Note that I am using IPO date