M/I Homes Series A Preferred Shares Crosses Above 9.5% Yield Territory

In trading on Wednesday, 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 $25.50 on the day. This compares to an average yield of 4.67% in the "General Contractors & Builders" preferred stock category, according to Preferred Stock Channel. As of last close, MHO.PRA was trading at a 4.28% premium to its liquidation preference amount, versus the average discount of 15.18% 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:

MHO.PRA+Dividend+History+Chart

In Wednesday trading, M/I Homes Inc's 9.75% Series A Preferred Share ( MHO.PRA) is currently up about 0.1% on the day, while the common shares ( MHO) are up about 0.3%.

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