M/I Homes' Series A Preferred Share Shares Cross 9.5% Yield Mark

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:

Performance Comparison Chart

Below is a dividend history chart for MHO.PRA, showing historical dividend payments on M/I Homes Inc's 9.75% Series A Preferred Share:


In Tuesday trading, M/I Homes Inc's 9.75% Series A Preferred Share ( MHO.PRA) is currently down about 0.9% on the day, while the common shares ( MHO) are up about 4.6%.

If you liked this article you might like

RBC Capital Markets Likes These 13 Small-Cap Stocks for Your 2016 Portfolio

Insider Trading Alert - UVE, FLIC And MHO Traded By Insiders

M/I Homes (MHO) Is Strong On High Volume Today

Insider Trading Alert - EAT, MHO And VLGEA Traded By Insiders

Time to Take Any Profits You Can Find in the Homebuilders