In trading on Thursday, shares of OAK's 6.550% Series B Preferred Units (Symbol: OAK.PRB) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.6375), with shares changing hands as low as $20.28 on the day. This compares to an average yield of 7.93% in the "Asset Management" preferred stock category, according to Preferred Stock Channel. As of last close, OAK.PRB was trading at a 17.52% discount to its liquidation preference amount, versus the average discount of 16.98% in the "Asset Management" 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.
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Looking at the chart above, OAK.PRB's low point in its 52 week range is $19.99 per share, with $22.84 as the 52 week high point — that compares with a last trade of $20.54.
Below is a dividend history chart for OAK.PRB, showing historical dividend payments on OAK's 6.550% Series B Preferred Units :
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In Thursday trading, OAK's 6.550% Series B Preferred Units (Symbol: OAK.PRB) is currently down about 1.3% on the day.
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Further OAK.PRB Research:
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