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| Hovnanian Enterprises Series A Preferred Stock Yield Pushes Past 10%By Preferred Stock Channel Staff, Wednesday, August 2, 3:49 PM ET
In trading on Wednesday, shares of Hovnanian Enterprises, Inc.'s 7.625% Series A Preferred Stock (NASDAQ:HOVNP) were yielding above the 10% mark based on its quarterly dividend (annualized to $1.9063), with shares changing hands as low as $19.01 on the day. This compares to an average yield of 24.69% in the "General Contractors & Builders" preferred stock category, according to Preferred Stock Channel. As of last close, HOVNP was trading at a 23.24% discount to its liquidation preference amount, versus the average discount of 51.46% in the "General Contractors & Builders" 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 HOVNP shares, versus HOV:
Below is a dividend history chart for HOVNP, showing historical dividend payments on Hovnanian Enterprises, Inc.'s 7.625% Series A Preferred Stock:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Hovnanian Enterprises, Inc.'s 7.625% Series A Preferred Stock (NASDAQ:HOVNP) is currently up about 0.1% on the day, while the common shares (NYSE:HOV) are down about 2.1%.
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