In trading on Tuesday, shares of Brookfield Asset Management Ltd’s 6.625% Series A Preferred Units (Symbol: OAK.PRA) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.6563), with shares changing hands as low as $22.02 on the day. This compares to an average yield of 6.96% in the “Business Services & Equipment” preferred stock category, according to Preferred Stock Channel. As of last close, OAK.PRA was trading at a 11.28% discount to its liquidation preference amount, versus the average discount of 6.68% in the “Business Services & Equipment” 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 OAK.PRA shares, versus BAM:
Below is a dividend history chart for OAK.PRA, showing historical dividend payments on Brookfield Asset Management Ltd’s 6.625% Series A Preferred Units :
Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday trading, Brookfield Asset Management Ltd's 6.625% Series A Preferred Units (Symbol: OAK.PRA) is currently trading flat on the day, while the common shares (Symbol: BAM) are down about 1.4%.
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