Morgan Stanley Preferred Share Series L Yield Exceeds 6%

IIn Monday’s trading, Morgan Stanley’s 4.875% Non-Cumulative Preferred Stock Series L (ticker: MS.PRL) was selling above the 6% mark based on its quarterly dividend (annualized at 1. $2188), with shares changing hands as low as $20.26 on the day. That compares to an average return of 5.89% in the “financial” preferred stock category, according to Preferred Stock Channel. As of last close, MS.PRL was trading at an 18.48% discount to its preferential liquidation amount, compared to an average discount of 8.73% in the “Financial” category. Investors should keep in mind that stocks are not cumulativemeaning that in the event of a missed payment, the company does not have to pay the balance of the missed dividends to preferred shareholders before resuming a common dividend.

Below is a historical dividend chart for MS.PRL, showing historical dividend payments on the 4.875% NON-CUMULATIVE PREFERRED SHARES SERIES L of Morgan Stanley:


On Monday, Morgan Stanley 4.875% NON-CUMULATIVE PREFERRED SHARES, SERIES L (ticker: MS.PRL) is currently up about 1.2% on the day, while common stocks (ticker: MS) are up increase of approximately 0.1%.

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