In trading on Wednesday, shares of MetLife Inc’s 5.625% Non-Cumulative Preferred Stock, Series E (Symbol: MET.PRE) yielded over 6.5%, with prices dropping as low as $21.63. The annualized dividend stands at $1.4062, while the average yield in the “Financial” category is 6.73%. Currently, MET.PRE is trading at a 13.20% discount to its liquidation preference amount, slightly above the category average of 13.16%.
It’s important to note that these shares are non-cumulative, meaning the company is not obligated to pay missed dividends to preferred shareholders before resuming common dividends. On Wednesday, MET.PRE was off about 0.2% for the day, while common shares (Symbol: MET) remained flat.
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