In trading on Tuesday, shares of M/I Homes Inc's 9.75% Series A Preferred Share (MHO.PRA) were yielding above the 9.5% mark based on its quarterly dividend (annualized to $2.4375), with shares changing hands as low as $25.08 on the day. This compares to an average yield of 4.69% in the "General Contractors & Builders" preferred stock category, according to Preferred Stock Channel. As of last close, MHO.PRA was trading at a 4.00% premium to its liquidation preference amount, versus the average discount of 19.80% in the "General Contractors & Builders" 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 MHO.PRA shares, versus MHO:
M/I Homes' Series A Preferred Share Shares Cross 9.5% Yield Mark
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