JSM · Navient Corp. 6.00% Senior Notes due 12/15/2043, cumulative · dividend, yield to call and par
Summary
JSM is a cumulative preferred of Navient Corporation. Par is $25.00. The coupon is 6.00%, fixed, paid as $0.3750 a quarter. It has been callable since Dec 2008. At 37% below par, a call is unlikely, so the main risk is interest rates. The issuer is an operating company rated high yield. The score is 6.6, Good.
The issuer can redeem at $25.00 at any time, which would hand a holder a 58% gain. Issuers call paper that is dear, not cheap. The risk here is rates, not the call.
Price history ↓6.00% of $25 for as long as the shares are outstanding. A cumulative dividend: a missed payment is still owed.
Questions ↓Preferred equity, senior to the common and below every note and bond. The credit pillar is the weakest of four.
How the score works →| Ex-date | Pay date | Amount | Change | Note |
|---|---|---|---|---|
| Mar 15, 2027 | 03/15/27 | $0.3750 | 0.0% | estimated from the coupon |
| Dec 14, 2026 | 12/15/26 | $0.3750 | 0.0% | declared |
| Sep 14, 2026 | 09/15/26 | $0.3750 | 0.0% | paid |
| Jun 12, 2026 | 06/15/26 | $0.3750 | 0.0% | paid |
How it stacks up · similar preferreds
All baby bonds| Security | Current yield | Coupon | Credit quality | Call date | IQS |
|---|---|---|---|---|---|
| JSM this pageNavient Corp. 6.00% Senior Notes due 12/15/2043 | 9.50% | 6% | High yield | Callable now | 6.6 |
| VNO-LVornado Realty Trust 5.40% Series L Cumulative Redeemable | 7.92% | 5.4% | High yield | None | 6.2 |
| STRFMicroStrategy Inc. 10.00% Series A Perpetual Strike Preferred Stock | 9.70% | 10% | Not rated | None | 4.5 |
| C-NCitigroup Capital XIII 7.875% Fixed-to-Floating Trust Preferred due 2040 | 10.15% | 10.707% | Investment grade | Callable now | 6.1 |
| NLY-FAnnaly Capital Management 6.95% Series F Fixed-to-Floating Preferred | 8.82% | 8.987% | Not rated | Callable now | 7.6 |
Chosen from the 29 preferreds with open records: other issuers only, the same credit quality first, then the closest current yield. Mandatory convertibles are matched only with each other.
Questions about JSM
How much does JSM pay, and how often?
JSM pays $1.50 a share a year. That is 6.% of the $25.00 face value. At the November 9 close of $15.79, it is a 9.50% current yield.
When is JSM’s next ex-dividend date?
December 14, 2026. The $0.38 payment is payable December 15. Navient Corporation has declared it.
Are JSM’s payments qualified dividends?
No. JSM is a bond, so it pays interest, which is taxed as ordinary income.
Can JSM be called?
Yes. The first call date was December 15, 2008, so Navient Corporation can redeem the shares at $25.00 at any time. The shares trade at $15.79, 37% below that price.
Does JSM have a maturity date?
Yes. Navient Corporation must repay the $25.00 on December 15, 2043.
What is JSM’s credit quality?
High yield. YieldDesk shows credit quality as Investment grade, High yield or Not rated.
What is JSM’s Income Quality Score?
JSM scores 6.6 out of 10, in the Good tier, computed on November 9, 2026 from filings and market data. The score weighs four pillars: coverage and protection, credit, buyback economics, and structure. Credit is the lowest, at 3.5. The methodology page explains each pillar.
Payments from issuer declarations; terms from the prospectus on SEC EDGAR; price from licensed market data, delayed 15 minutes. Credit quality shows Investment grade, High yield or Not rated. The Income Quality Score is computed from filings and market data; the methodology page lists each class’s pillars. IQS describes a security. It is not investment advice or a recommendation to buy, sell or hold.
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