Air Lease's Preferred Stock, Series A Shares Cross 6% Yield Mark

By Preferred Stock Channel Staff, Wednesday, May 12, 3:23 PM ET

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In trading on Wednesday, shares of Air Lease Corp's 6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE:AL.PRA) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.5376), with shares changing hands as low as $25.60 on the day. This compares to an average yield of 8.12% in the "Transportation" preferred stock category, according to Preferred Stock Channel. As of last close, AL.PRA was trading at a 5.36% premium to its liquidation preference amount, versus the average premium of 1.53% in the "Transportation" 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 AL.PRA shares, versus AL:

Performance Comparison Chart

Below is a dividend history chart for AL.PRA, showing historical dividend payments on Air Lease Corp's 6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A :

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In Wednesday trading, Air Lease Corp's 6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE:AL.PRA) is currently down about 1.8% on the day, while the common shares (NYSE:AL) are down about 2.9%.

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Air Lease's Preferred Stock, Series A Shares Cross 6% Yield Mark

Air Lease's Preferred Stock, Series A Shares Cross 6% Yield Mark | www.PreferredStockChannel.com