Miller Energy Resources Series C Preferred Stock Crosses Above 12% Yield Territory

In trading on Tuesday, shares of Miller Energy Resources, Inc.'s 10.75% Series C Cumulative Redeemable Preferred Stock (MILL.PRC) were yielding above the 12% mark based on its quarterly dividend (annualized to $2.6875), with shares changing hands as low as $22.03 on the day. This compares to an average yield of 9.50% in the "Oil & Gas Exploration & Production" preferred stock category, according to Preferred Stock Channel. As of last close, MILL.PRC was trading at a 9.60% discount to its liquidation preference amount, versus the average discount of 7.83% in the "Oil & Gas Exploration & Production" category.

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The chart below shows the one year performance of MILL.PRC shares, versus MILL:

Performance Comparison Chart

Below is a dividend history chart for MILL.PRC, showing historical dividend payments on Miller Energy Resources, Inc.'s 10.75% Series C Cumulative Redeemable Preferred Stock:

MILL.PRC+Dividend+History+Chart

In Tuesday trading, Miller Energy Resources, Inc.'s 10.75% Series C Cumulative Redeemable Preferred Stock ( MILL.PRC) is currently up about 0.3% on the day, while the common shares ( MILL) are up about 0.5%.

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