MetLife's Preferred Stock, Series E Shares Cross 6.5% Yield Mark

In trading on Wednesday, shares of MetLife Inc's 5.625% Non-Cumulative Preferred Stock, Series E (Symbol: MET.PRE) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $21.63 on the day. This compares to an average yield of 6.73% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MET.PRE was trading at a 13.20% discount to its liquidation preference amount, versus the average discount of 13.16% in the "Financial" 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 MET.PRE shares, versus MET:

Below is a dividend history chart for MET.PRE, showing historical dividend payments on MetLife Inc's 5.625% Non-Cumulative Preferred Stock, Series E:

In Wednesday trading, MetLife Inc's 5.625% Non-Cumulative Preferred Stock, Series E (Symbol: MET.PRE) is currently off about 0.2% on the day, while the common shares (Symbol: MET) are trading flat.