Best Preferred Stock Opportunity: Wesco, A Fortune 500 Company, 9.5% Yield
Published Sep 20, 2020 on Seeking Alpha

Seeking AlphaDividend IdeasBest Preferred Stock Opportunity: Wesco, A Fortune 500 Company, 9.5% YieldSep. 20, 2020 12:56 PM ET|| About: WESCO International, Inc. (WCC), WCC.PA, Includes: DIV, DVY, NGLS.PA, RF, RF.PA, RF.PB, RF.PC, SCHD, SPHDby: Rida MorwaRida Morwa High Dividend OpportunitiesThe #1 Service for Income Investors and Retirees, 9-10% dividend yield.SummaryWesco International, a Fortune 500 company, recently issued a new high-yielding preferred stock as part of its merger with Anixter International, another Fortune 500 company.
The Wesco International Series A (WCC-A) preferred stock is possibly the best preferred stock opportunity today, and currently carries a 9.5% stripped yield.
Every five years, the dividend on WCC-A resets to the five-year Treasury Rate plus 10.325%, by far the highest floating rate of any preferred stock.
This extraordinarily high reset/floating rate provides enormous protection against any kind of future interest rate environment.
The dividends on this high yielder are also qualified for the 15% tax rate.
Co-produced with Preferred Stock Trader
Wesco International
Wesco International (WCC) was founded almost 100 years ago and is a large distributor of a very broad variety of electrical products. The following is from Yahoo Finance:

The company distributes electrical, industrial, and communications maintenance, repair, and operating ('MRO') and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies; communication and metering devices, and racking systems; and solar modules, connectors, and storage batteries. It also distributes wires, cables,... Read more