Apollo Global Management's Prefered Series E Shares Cross 7.5% Yield Mark

In trading on Friday, shares of Apollo Global Management Inc (new's 7.750% Dep Sh Rate Reset Non-Cumul Pref Shares Ser E (Symbol: ATH.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.9375), with shares changing hands as low as $25.60 on the day. This compares to an average yield of 6.59% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, ATH.PRE was trading at a 4.88% premium to its liquidation preference amount, versus the average discount of 11.38% 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 ATH.PRE shares, versus APO:

Below is a dividend history chart for ATH.PRE, showing historical dividend payments on Apollo Global Management Inc (new's 7.750% Dep Sh Rate Reset Non-Cumul Pref Shares Ser E:

In Friday trading, Apollo Global Management Inc (new's 7.750% Dep Sh Rate Reset Non-Cumul Pref Shares Ser E (Symbol: ATH.PRE) is currently off about 0.3% on the day, while the common shares (Symbol: APO) are down about 4.3%.

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