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| Morgan Stanley's PREFERRED STOCK, SERIES L Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Monday, June 12, 2:31 PM ET
In trading on Monday, shares of Morgan Stanley's 4.875% NON-CUMULATIVE PREFERRED STOCK, SERIES L (NYSE:MS.PRL) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.2188), with shares changing hands as low as $22.06 on the day. This compares to an average yield of 6.85% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MS.PRL was trading at a 11.08% discount to its liquidation preference amount, versus the average discount of 13.80% 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.PRL shares, versus MS:
Below is a dividend history chart for MS.PRL, showing historical dividend payments on Morgan Stanley's 4.875% NON-CUMULATIVE PREFERRED STOCK, SERIES L:
Free Report: Top 8%+ Dividends (paid monthly) In Monday trading, Morgan Stanley's 4.875% NON-CUMULATIVE PREFERRED STOCK, SERIES L (NYSE:MS.PRL) is currently trading flat on the day, while the common shares (NYSE:MS) are up about 1.1%.
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