All of Digital Bridge (erstwhile CLNY) preferred dividends are classified as 100% Return of Capital. You don’t pay taxes this year, but when you sell, it is converted as capital gains. Depending on your situation this may or may not be a good.
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Digital Bridge is planning to redeem most, at least $600 M worth of preferred’s. This was the main reason I bought the preferred’s in Dec 21. Then the company prioritized investments and at last coming back to redeeming the preferred’s. You can see the price is moving up in recent weeks. My sell order for $24 got triggered today. You may want to wait to see if it gets to $25.