In trading on Monday, shares of Ares Management Corp's 7.00% Series A Preferred Units (Symbol: ARES.PRA) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.75), with shares changing hands as low as $24.99 on the day. This compares to an average yield of 5.30% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, ARES.PRA was trading at a 1.84% premium to its liquidation preference amount, versus the average premium of 6.92% 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.
Below is a dividend history chart for ARES.PRA, showing historical dividend payments on Ares Management Corp's 7.00% Series A Preferred Units :
Free Report: Top 7%+ Dividends (paid monthly)
In Monday trading, Ares Management Corp's 7.00% Series A Preferred Units (Symbol: ARES.PRA) is currently down about 0.1% on the day, while the common shares (Symbol: ARES) are down about 1%.
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