In trading on Monday, shares of Miller Energy Resources, Inc.'s 10.75% Series C Cumulative Redeemable Preferred Stock (MILL.PRC) were yielding above the 10.5% mark based on its quarterly dividend (annualized to $2.6875), with shares changing hands as low as $25.39 on the day. This compares to an average yield of 7.52% in the "Oil & Gas Exploration & Production" preferred stock category, according to Preferred Stock Channel. As of last close, MILL.PRC was trading at a 3.60% premium to its liquidation preference amount, versus the average discount of 1.35% in the "Oil & Gas Exploration & Production" category.The chart below shows the one year performance of MILL.PRC shares, versus MILL:
Miller Energy Resources' Series C Preferred Stock Crosses Above 10.5% Yield Territory
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