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Morgan Stanley's Preferred Stock, Series F Crosses Above 6.5% Yield Territory

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In trading on Thursday, shares of Morgan Stanley's Fixed-To-Floating Rate Non-Cumulative Preferred Stock, Series F (NYSE: MS.PRF) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.7188), with shares changing hands as low as $26.35 on the day. This compares to an average yield of 5.60% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MS.PRF was trading at a 6.16% premium to its liquidation preference amount, versus the average premium of 0.34% 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.

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The chart below shows the one year performance of MS.PRF shares, versus MS:

Below is a dividend history chart for MS.PRF, showing historical dividend payments on Morgan Stanley's Fixed-To-Floating Rate Non-Cumulative Preferred Stock, Series F:


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In Thursday trading, Morgan Stanley's Fixed-To-Floating Rate Non-Cumulative Preferred Stock, Series F (NYSE: MS.PRF) is currently down about 0.1% on the day, while the common shares (NYSE: MS) are up about 0.6%.