I just checked the symbol it is a Financial Trust
pays 2.44 annual on a quarterly basis.
TAYCP is the symbol par is $ 25.00 = yield of about 9.8 % + - .
The CHKR Oil / Gas Trust units are for a specific Production Volume designated for trust sales
I do not have a strong want to own this one yet, It is at close to yearly lows.
It is paying 65 cents vs prospectus announced 75 cents, so the slam down after announement today.
I did see they are paying 65 cents based on relized GAS sales price of $ 1.90 mmcft, so I consider
that as fairly close to as little as they can be expected to receive from gas.
They also only got $ 36 for bbl of NGL's sold, and $ 97, for the oil.
Only taken a brief look at it so far.....price is jumpy today 20.50 - 22.50 and back now to 21.50......
CHKR seems to not have substainal product hedges in place..but did manage to post a 2.3 M derivitive loss.
fwiw.....I just took a flyer on it.
Now if your interested in a Hedged OIL/GAS USA TRUST look at VOC, It has nice hedges in place for next 18 months.
yield is close to projected 10 %....BUT one must monitor the Cost to drill and complete ongoing operations.
carefully on all these trusts.....There does seem to be good early stage dividend potential for some of these IMHO.
You are correct in the preffereds today that pay 10 % are all subject to being called in at par.
All the newer issues that extend non-callable feature beyand now ...say until 2015 -2017 are offering
about 6.5 % - 8.5 %...............that I know of.
IMHO............The MHR common pricing does effect my resentment...no biggee.as I owned none...