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| Air Lease's Preferred Stock, Series A Shares Cross 6.5% Yield MarkBy Preferred Stock Channel Staff, Thursday, May 12, 2:12 PM ET
In trading on Thursday, shares of Air Lease Corp's 6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE:AL.PRA) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.5375), with shares changing hands as low as $23.30 on the day. This compares to an average yield of 8.16% in the "Transportation" preferred stock category, according to Preferred Stock Channel. As of last close, AL.PRA was trading at a 3.28% discount to its liquidation preference amount, versus the average premium of 1.45% in the "Transportation" 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 AL.PRA shares, versus AL:
Below is a dividend history chart for AL.PRA, showing historical dividend payments on Air Lease Corp's 6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A :
Free Report: Top 7%+ Dividends (paid monthly) In Thursday trading, Air Lease Corp's 6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE:AL.PRA) is currently down about 2.8% on the day, while the common shares (NYSE:AL) are off about 2.9%.
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