4 Well-Covered Preferreds Yielding Over 8%: No K-1, All Going Ex-Dividend Soon

With some high-dividend stocks struggling with coverage over the past year, you may want to consider adding some preferreds to your portfolio. Preferred shares rank higher than common shares. This industry leader has multiple preferreds, all yielding over 8%. They're all well-covered, with coverage ratios of 2.25X to 7.6X. They're all cumulative, and 3 of 4 are selling below their $25 call value - the 4th is at $25.03. There's no K-1 hassle.

Seaspan Corp. (NYSE:SSW) is the world's largest independent owner, operator and manager of containerships. It has an average of ~5 years remaining on its long-term charters, which represent 90% of its revenue. The company has had its ups and downs over the past few years, and actually cut its common dividend from $.375 to $.125 a year ago in April 2017.

Source: Seeking Alpha

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