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Kinder Morgan's Series A Preferred Stock Yield Pushes Past 10%

by www.forbes.com
In trading on Tuesday, shares of Kinder Morgan Inc.'s 9.75% Series A Mandatory Convertible Preferred Stock (NYSE: KMI.PRA) were yielding above the 10% mark based on its quarterly dividend (annualized to $4.875), with shares changing hands as low as $48.65 on the day. This compares to an average yield of 8.40% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, KMI.PRA was trading at a 1.60% discount to its liquidation preference amount, versus the average discount of 2.25% in the "Energy" category. It should be noted that the preferred shares are convertible. Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »
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