Hovnanian Enterprises' Series A Preferred Stock Yield Pushes Past 8.5%

By Preferred Stock Channel Staff, Wednesday, January 5, 2:23 PM ET

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In trading on Wednesday, shares of Hovnanian Enterprises, Inc.'s 7.625% Series A Preferred Stock (NASDAQ:HOVNP) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $1.9063), with shares changing hands as low as $22.42 on the day. As of last close, HOVNP was trading at a 8.20% discount to its liquidation preference amount. 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 HOVNP shares, versus HOV:

Performance Comparison Chart

Below is a dividend history chart for HOVNP, showing historical dividend payments on Hovnanian Enterprises, Inc.'s 7.625% Series A Preferred Stock:

Free Report: Top 7%+ Dividends (paid monthly)

In Wednesday trading, Hovnanian Enterprises, Inc.'s 7.625% Series A Preferred Stock (NASDAQ:HOVNP) is currently off about 0.5% on the day, while the common shares (NYSE:HOV) are up about 1.3%.

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Hovnanian Enterprises' Series A Preferred Stock Yield Pushes Past 8.5%

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