In trading on Thursday, shares of Morgan Stanley's Floating Rate Non-Cumulative Preferred Stock, Series A (Symbol: MS.PRA) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.0222), with shares changing hands as low as $18.55 on the day. This compares to an average yield of 5.73% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, MS.PRA was trading at a 24.48% discount to its liquidation preference amount, versus the average discount of 4.43% 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 MS.PRA shares, versus MS:
Below is a dividend history chart for MS.PRA, showing historical dividend payments on Morgan Stanley's Floating Rate Non-Cumulative Preferred Stock, Series A:
In Thursday trading, Morgan Stanley's Floating Rate Non-Cumulative Preferred Stock, Series A (Symbol: MS.PRA) is currently off about 0.5% on the day, while the common shares (Symbol: MS) are off about 1.9%.
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