Morgan Stanley Sets Dividend on 2 Series of Preferreds

Investment banking giant Morgan Stanley (MS 0.30%) announced yesterday its regular second-quarter dividend on two series of preferred stock. 

For its Series A floating rate non-cumulative preferred stock, a dividend of $252.78 per share will be paid, which is equivalent to $0.25278 per depositary share. The shares trade on the NYSE under the symbol MS.PRA. For Morgan Stanley's 10% Series C non-cumulative, non-voting perpetual preferred stock, a dividend of $25.00 per share will be paid.

The board of directors said the quarterly dividend for both series of preferred shares is payable on July 15 to the holders of record at the close of business on June 28. 

Morgan Stanley also pays a regular dividend on its common stock that equates to a $0.20-per-share annual dividend, yielding 0.7% based on the closing price of its stock on June 10.