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| Apollo Global Management's Prefferred Shares Series E Crosses Above 7.5% Yield TerritoryBy Preferred Stock Channel Staff, Monday, April 22, 2:20 PM ET
In trading on Monday, shares of Apollo Global Management Inc (new's 7.750% Dep Sh Rate Reset Non-Cumul Pref Shares Ser E (NYSE:ATH.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.9375), with shares changing hands as low as $25.77 on the day. This compares to an average yield of 6.83% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, ATH.PRE was trading at a 3.72% premium to its liquidation preference amount, versus the average discount of 11.87% 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 ATH.PRE shares, versus APO:
Below is a dividend history chart for ATH.PRE, showing historical dividend payments on Apollo Global Management Inc (new's 7.750% Dep Sh Rate Reset Non-Cumul Pref Shares Ser E:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Monday trading, Apollo Global Management Inc (new's 7.750% Dep Sh Rate Reset Non-Cumul Pref Shares Ser E (NYSE:ATH.PRE) is currently off about 0.3% on the day, while the common shares (NYSE:APO) are up about 2.4%.
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