Replies to post #651070 on Mr Cooper Group Inc fka COOP

[Planet Paprika]

Bbanbob,

during its stay in Chapter 11, the corporation suspends all dividends. ... If the preferred shares are cumulative, the company will have to make good on missed dividends before paying common stock dividends, but it need not pay any dividends at all.... ?

[newflow]

BBANBOB UIT NOT P's
Upon little more reading here is my take on UIT.

UIT is Unit Investment Trust and the Trustee is BNYM.

If Units of UIT is actually allocated to P holders, it is not exactly like replacing old P's with new Ps.

You can imagine Units of UIT as ETFs(not exactly) with monthly dividends.

If preferred holders get Units from UIT, those Units will distribute monthly dividends and those Units are not old P's IMO.