Morgan Stanley's PREFERRED STOCK, SERIES L Shares Cross 6% Yield Mark

By Preferred Stock Channel Staff, Tuesday, November 29, 5:02 PM ET

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In trading on Tuesday, 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 $20.02 on the day. This compares to an average yield of 6.08% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MS.PRL was trading at a 15.24% discount to its liquidation preference amount, versus the average discount of 9.68% 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:

Performance Comparison Chart

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:

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In Tuesday trading, Morgan Stanley's 4.875% NON-CUMULATIVE PREFERRED STOCK, SERIES L (NYSE:MS.PRL) is currently off about 0.1% on the day, while the common shares (NYSE:MS) are up about 1.1%.

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Morgan Stanley's PREFERRED STOCK, SERIES L Shares Cross 6% Yield Mark

Morgan Stanley's PREFERRED STOCK, SERIES L Shares Cross 6% Yield Mark | www.PreferredStockChannel.com