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Ares Management's Series A Preferred Shares Cross 7% Yield Mark

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.

Performance Comparison Chart

Below is a dividend history chart for ARES.PRA, showing historical dividend payments on Ares Management Corp's 7.00% Series A Preferred Units :

ARES.PRA+Dividend+History+Chart


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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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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