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| American Equity Investment Life Holding Preferred Stock Pushes Past 6.5%By Preferred Stock Channel Staff, Tuesday, February 13, 2:05 PM ET
In trading on Tuesday, shares of American Equity Investment Life Holding Co's 6.625% Ser B Dep Shr Reset Rate Pref Stk (NYSE:AEL.PRB) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.6562), with shares changing hands as low as $25.48 on the day. This compares to an average yield of 6.57% in the "Life & Health Insurance" preferred stock category, according to Preferred Stock Channel. As of last close, AEL.PRB was trading at a 2.52% premium to its liquidation preference amount, versus the average discount of 8.65% 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. The chart below shows the one year performance of AEL.PRB shares, versus AEL:
Below is a dividend history chart for AEL.PRB, showing historical dividend payments on American Equity Investment Life Holding Co's 6.625% Ser B Dep Shr Reset Rate Pref Stk:
Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, American Equity Investment Life Holding Co's 6.625% Ser B Dep Shr Reset Rate Pref Stk (NYSE:AEL.PRB) is currently down about 0.2% on the day, while the common shares (NYSE:AEL) are off about 0.4%.
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