Washington Mutual Preferred fka WAMPQ

[Rumble]

There is only speculation and desire that lead people to think there will be back dividends paid. While you or I may like JPM to pay back dividends (because we think they should), it's not realistically going to happen. Weil is working to get the company back into an operating entity, and that will in the long-term return the value to the preferred shares where we can start receiving dividends going forward again.

At that time, pricing of the preferreds will be like pricing of bonds. The great dividend rate of 7.75% will make them very attractive. Average bond rates are around 4-5% give or take, so these will sell on the market at a premium, once WMI is recapitalized and making scheduled dividend payments.