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Brighthouse Financial's Preferred Stock, Series A Crosses Above 6% Yield Territory

By Preferred Stock Channel Staff, Tuesday, May 11, 2:14 PM ET

In trading on Tuesday, shares of Brighthouse Financial Inc's 6.600% Non-Cumulative Preferred Stock, Series A (NASDAQ:BHFAP) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.65), with shares changing hands as low as $27.12 on the day. This compares to an average yield of 6.02% in the "Life & Health Insurance" preferred stock category, according to Preferred Stock Channel. As of last close, BHFAP was trading at a 10.12% premium to its liquidation preference amount, versus the average premium of 5.98% in the "Life & Health Insurance" 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 BHFAP shares, versus BHF:

Performance Comparison Chart

Below is a dividend history chart for BHFAP, showing historical dividend payments on Brighthouse Financial Inc's 6.600% Non-Cumulative Preferred Stock, Series A:

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In Tuesday trading, Brighthouse Financial Inc's 6.600% Non-Cumulative Preferred Stock, Series A (NASDAQ:BHFAP) is currently down about 1.1% on the day, while the common shares (NASDAQ:BHF) are up about 0.6%.

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