ATH's Preference Series B Shares Cross 8% Yield Mark
In trading on Wednesday, shares of ATH's 5.625% Fixed Rate Perpetual Non-Cumulative Preference Shares, Series B (Symbol: ATH.PRB) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $17.47 on the day. This compares to an average yield of 9.69% in the "Life & Health Insurance" preferred stock category, according to Preferred Stock Channel. As of last close, ATH.PRB was trading at a 28.72% discount to its liquidation preference amount, versus the average discount of 34.32% in the "Life & Health Insurance" 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.
Looking at the chart above, ATH.PRB's low point in its 52 week range is $17.4688 per share, with $22.45 as the 52 week high point — that compares with a last trade of $17.58.
Below is a dividend history chart for ATH.PRB, showing historical dividend payments on ATH's 5.625% Fixed Rate Perpetual Non-Cumulative Preference Shares, Series B:
In Wednesday trading, ATH's 5.625% Fixed Rate Perpetual Non-Cumulative Preference Shares, Series B (Symbol: ATH.PRB) is currently off about 1.7% on the day.
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