In trading on Friday, shares of Ares Management LP’s 7.00% Series A Preferred Units (Symbol: ARES.PRA) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.75), with shares changing hands as low as $26.86 on the day. As of last close, ARES.PRA was trading at a 8.20% premium to its liquidation preference amount. 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 ARES.PRA shares, versus ARES:
Below is a dividend history chart for ARES.PRA, showing historical dividend payments on Ares Management LP’s 7.00% Series A Preferred Units :
In Friday trading, Ares Management LP’s 7.00% Series A Preferred Units (Symbol: ARES.PRA) is currently off about 0.7% on the day, while the common shares (Symbol: ARES) are up about 0.8%.