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Kinder Morgan's Series A Preferred Stock Shares Cross 10.5% Yield Mark

By Preferred Stock Channel Staff, Thursday, April 20, 3:00 PM ET
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In trading on Thursday, shares of Kinder Morgan Inc.'s 9.75% Series A Mandatory Convertible Preferred Stock (NYSE:KMI.PRA) were yielding above the 10.5% mark based on its quarterly dividend (annualized to $4.875), with shares changing hands as low as $46.20 on the day. This compares to an average yield of 8.39% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, KMI.PRA was trading at a 5.50% discount to its liquidation preference amount, versus the average discount of 2.20% in the "Energy" category. It should be noted that the preferred shares are convertible.

The chart below shows the one year performance of KMI.PRA shares, versus KMI:

Performance Comparison Chart

Below is a dividend history chart for KMI.PRA, showing historical dividend payments on Kinder Morgan Inc.'s 9.75% Series A Mandatory Convertible Preferred Stock:


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In Thursday trading, Kinder Morgan Inc.'s 9.75% Series A Mandatory Convertible Preferred Stock (NYSE:KMI.PRA) is currently off about 2% on the day, while the common shares (NYSE:KMI) are off about 1.5%.


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