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| Morgan Stanley's PREFERRED STOCK, SERIES L Yield Pushes Past 6%By Preferred Stock Channel Staff, Monday, May 16, 2:08 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 6% mark based on its quarterly dividend (annualized to $1.2188), with shares changing hands as low as $20.26 on the day. This compares to an average yield of 5.89% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MS.PRL was trading at a 18.48% discount to its liquidation preference amount, versus the average discount of 8.73% 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:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Monday trading, Morgan Stanley's 4.875% NON-CUMULATIVE PREFERRED STOCK, SERIES L (NYSE:MS.PRL) is currently up about 1.2% on the day, while the common shares (NYSE:MS) are up about 0.1%.
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