Floating-rate preferred

Floating-rate preferred

Floating-Rate Preferred Stock

A preferred stock paying a dividend that varies from time to time. Usually, the dividend rate is the same as the interest rate on a Treasury security. They may also be backed by mortgages or mortgage-backed securities. Floating-rate preferred stocks tend to have stable prices because a drop in the common share's price is offset by a rise in bonds, and vice versa.
References in periodicals archive ?
Proceeds of the issue will be utilized for general corporate purposes including the repayment of existing floating-rate preferred shares and debt.
DCR) has assigned a rating of 'A' (Single-A) to the $250 million floating-rate preferred securities of Chase Capital VI, a wholly owned subsidiary of The Chase Manhattan Corporation (CMB).
Municipal CEFs have also shown a preference for issuing floating-rate preferred shares, which comprised 87% of the total.
Mengedoth said the fourth quarter dividend on the company's privately placed 56,000 shares of floating-rate preferred stock is $147,350.
E[acute accent]-- Floating-rate preferred stock, series A 'A-';
In addition to providing current income, the dividends paid by the fund's floating-rate preferred securities may provide a hedge against rising short-term interest rates.
The net proceeds will be utilized for general corporate purposes including the repayment of existing floating-rate preferred shares and debt.
0 million, or 500 shares, of Richmond County Capital Corporation Series C Non-Cumulative Exchangeable Floating-Rate Preferred Stock, stated value $100,000 per share (the "Series C Preferred Stock").