American Equity Investment Life Holding Co's 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A Shares Cross 7% Yield MarkBy Preferred Stock Channel Staff, Friday, October 13, 2:05 PM ETIn trading on Friday, shares of American Equity Investment Life Holding Co's 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (NYSE:AEL.PRA) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.4875), with shares changing hands as low as $21.09 on the day. This compares to an average yield of 7.60% in the "Life & Health Insurance" preferred stock category, according to Preferred Stock Channel. As of last close, AEL.PRA was trading at a 14.44% discount to its liquidation preference amount, versus the average discount of 20.43% in the "Life & Health Insurance" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of AEL.PRA shares, versus AEL:
Below is a dividend history chart for AEL.PRA, showing historical dividend payments on American Equity Investment Life Holding Co's 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A:
Free Report: Top 8%+ Dividends (paid monthly) In Friday trading, American Equity Investment Life Holding Co's 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (NYSE:AEL.PRA) is currently off about 1.1% on the day, while the common shares (NYSE:AEL) are off about 0.3%.
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