Replies to post #757989 on Fannie Mae-No Politics (FNMA)

[Donotunderstand]

While the reason one purchases JPS at any company is the income flow and eventual call at face, they are equity. Owners do not vote. The instrument sits as equity in an 11 - but its paid - in a waterfall before common (I do not see 11 for F and F). Also - by prospectus - JPS dividends must be paid before any dividend can be paid on common stock.

Here is a link to an outstanding - neutral informative - site that explains JPS

https://www.investopedia.com/terms/p/preferredstock.asp