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| BondsOnline.com: instant access to and extensive coverage of over 3.5 million stocks, bonds, indexes and other securities covering major and emerging markets and exchanges across the globe. |
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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
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3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
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3.13% |
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S&P National 0-5 Year Municipal Bond Index
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0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
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848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
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1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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CIT Suspends Preferred Dividends |
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Dow Jones, August 7, 2009
In another move designed to improve its finances, CIT Group Inc. (CIT) on Friday suspended dividends on four series of preferred stock.
In a statement, CIT said it is suspending its A, B, C and D series preferred shares. This will save the century-old lender about $50 million per quarter, according CIT spokesman Curt Ritter. CIT said that the decision to suspend dividends would in order to improve liquidity and preserve capital while restructuring efforts are ongoing. Ritter declined to comment further.
But the move is consistent with a firm that is considering filing for bankruptcy, said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott.
“That’s ($50 million of savings) chump change against CIT’s debt pile. It doesn’t make an impact,” LeBas said. “There is still a very high probability the company will have to file for bankruptcy protection if it is unable to execute some form of out-of-court restructuring,” he added.
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| Stuff to look at |
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| BondsOnline Advisor |
Income Security Recommendation January 2013 Issue.
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