Babcock & Wilcox Enterprises' Series A Preferred Stock Shares Cross 10.5% Yield Mark

Babcock & Wilcox Enterprises’ 7.75% Series A Cumulative Preferred Stock (BW.PRA) briefly pushed its yield above 10.5% in Friday trading, driven by its quarterly dividend annualized to $1.9375. Shares changed hands as low as $18.11 during the session. Preferred Stock Channel data put the stock’s yield compared with an average 9.97% yield in the “Industrial Machinery & Equipment” preferred category. At the last close, BW.PRA traded at a 23.28% discount to its liquidation preference amount, versus an average 10.82% discount in the same peer group. BW.PRA was down about 1.9% on the day, while the common shares (BW) rose about 0.4%.