Markets

AmTrust Financial Services' Preferred Stock, Series E Shares Cross 9.5% Yield Mark

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Shutterstock photo

Shutterstock photo

In trading on Wednesday, shares of AmTrust Financial Services Inc's 7.75% Non-Cumulative Preferred Stock, Series E (Symbol: AFSI.PRE) were yielding above the 9.5% mark based on its quarterly dividend (annualized to $1.9375), with shares changing hands as low as $20.24 on the day. This compares to an average yield of 5.64% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, AFSI.PRE was trading at a 18.04% discount to its liquidation preference amount, versus the average premium of 4.68% in the "Financial" 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 AFSI.PRE shares, versus AFSI:

Performance Comparison Chart

Below is a dividend history chart for AFSI.PRE, showing historical dividend payments on AmTrust Financial Services Inc's 7.75% Non-Cumulative Preferred Stock, Series E:

AFSI.PRE+Dividend+History+Chart

In Wednesday trading, AmTrust Financial Services Inc's 7.75% Non-Cumulative Preferred Stock, Series E (Symbol: AFSI.PRE) is currently off about 0.7% on the day, while the common shares (Symbol: AFSI) are down about 0.2%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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