Author: Tim Plaehn, Investors Alley

Investors can expect close to 20% on average annual returns going forward.

Once investors see its dividend continuing to increase, I expect them to jump back in.

It’s not too late to get in.

With the massive increase in interest rates, preferred stocks with fixed-to-floating coupon rates are poised for significant, locked-in yield increases. That’s a massive 2024 profit opportunity just waiting for you to jump in.

This is a unique opportunity: If you buy these preferred shares now and hold until they’re redeemed, you’ll receive a total of $156 per share in cash (an almost guaranteed return on a $35 investment).