Ares Management's Series B Preferred Stock Shares Cross 6.5% Yield Mark

In trading on Tuesday, shares of Ares Management Corp's 6.75% Series B Mandatory Convertible Preferred Stock (Symbol: ARES.PRB) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $3.375), with shares changing hands as low as $50.39 on the day. As of last close, ARES.PRB was trading at a 6.50% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 0.2717 - 0.3260.

The chart below shows the one year performance of ARES.PRB shares, versus ARES:

Below is a dividend history chart for ARES.PRB, showing historical dividend payments on Ares Management Corp's 6.75% Series B Mandatory Convertible Preferred Stock:

In Tuesday trading, Ares Management Corp's 6.75% Series B Mandatory Convertible Preferred Stock (Symbol: ARES.PRB) is currently off about 3.1% on the day, while the common shares (Symbol: ARES) are off about 5.1%.

Also see: • Stocks Being Bought By Hedge Funds
• AFG Next Dividend Date
• Top Ten Hedge Funds Holding ONEK


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