Amtrust Financial Services' Preferred Stock, Series A Shares Cross 14% Yield Mark
In trading on Monday, shares of Amtrust Financial Services Inc's 6.75% Non-Cumulative Preferred Stock, Series A (Symbol: AFSI.PRA) were yielding above the 14% mark based on its quarterly dividend (annualized to $1.6875), with shares changing hands as low as $10.97 on the day. This compares to an average yield of 13.48% in the "Insurance Brokers" preferred stock category, according to Preferred Stock Channel . As of last close, AFSI.PRA was trading at a 51.56% discount to its liquidation preference amount, versus the average discount of 45.73% in the "Insurance Brokers" 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.
Below is a dividend history chart for AFSI.PRA, showing historical dividend payments on Amtrust Financial Services Inc's 6.75% Non-Cumulative Preferred Stock, Series A :
In Monday trading, Amtrust Financial Services Inc's 6.75% Non-Cumulative Preferred Stock, Series A (Symbol: AFSI.PRA) is currently off about 1.8% on the day, while the common shares (Symbol: AFSI) are up about 0.1%.
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