Morning Everyone. I guess the market was spooked by the Federal Reserve comments yesterday.
A couple of us are considering moving over some of our more "risky" investments into more of a dividend basket of sorts. One of the stocks we are purchasing is Cullen Frost Bankers, Inc. (CFRPP) or (CFRPRA) or (CFR-A). The stock is preferred and is currently trading in the gray sheets waiting to hit the NYSE in 30 days. If you run over to Yahoo or your broker, you will see it trading but you won't see the bid/ask price. You will have to call your broker for that information (phone quotes only). It's currently trading under it's PAR Value of $25 around $24.41 - $24.60 AND it pays a nice 5.35% dividend. The first installment is $.45 payable June 15th. Not too shabby. So bottom line is you can you buy this stock under below it's market price before it hits the NYSE. When it hits it will be trading under CFR-A. You can go over to SA to read more about it