- Alphabet mandatory convertible preferred yields over 7.5%.
- Preferred trades at ~$41, down from $50 issue price.
Alphabet's mandatory convertible preferred now yields over 7.5% after the common stock fell 12% on earnings. The high yield comes with a catch: the preferred converts to common in May 2029 at a potential discount to face value.
One free account opens every story complete, the live board, the 30-day calendar, a watchlist and breaking alerts on your phone. No card. The wire stays free to read.