American Equity Declares 1st Quarter 2021 Preferred Stock Dividends

Rhea-AI Summary

American Equity Investment Life Holding Company (NYSE: AEL) declared cash dividends for its Series A and Series B Preferred Stock. The dividend for Series A is set at $371.875 per share ($0.371875 per depositary share), while Series B is $414.0625 per share ($0.4140625 per depositary share). Both dividends will be payable on March 1, 2021, to shareholders of record as of February 15, 2021. The Series A and B Depositary Shares are listed on NYSE under the symbols AELPRA and AELPRB respectively.

Positive

• Dividends declared for Series A and B Preferred Stocks provide income for shareholders.
• Confidence in financial stability reflected by consistent dividend payments.

Negative

• None.

American Equity Investment Life Holding Company (NYSE: AEL), today announced that in accordance with the terms of its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”), which is represented by depositary shares, each representing a 1/1,000^th interest in a share of Series A Preferred Stock (the “Series A Depositary Shares”), the Board of Directors has declared a cash dividend of $371.8750000 per share of Series A Preferred Stock (equivalent to $0.371875000 per Series A Depositary Share). The dividend will be payable on March 1, 2021 to Series A Preferred Stock shareholders of record as of February 15, 2021. Depositary receipts for the Series A Preferred Stock are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “AELPRA”.

Additionally, American Equity Investment Life Holding Company today announced that in accordance with the terms of its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B (the “Series B Preferred Stock”), which is represented by depositary shares, each representing a 1/1,000^th interest in a share of Series B Preferred Stock (the “Series B Depositary Shares”), the Board of Directors has declared a cash dividend of $414.0625000 per share of Series B Preferred Stock (equivalent to $0.414062500 per Depositary Share). The dividend will be payable on March 1, 2021 to Series B Preferred Stock shareholders of record as of February 15, 2021. Depositary receipts for the Series B Preferred Stock are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “AELPRB”.

ABOUT AMERICAN EQUITY

American Equity Investment Life Holding Company, through its wholly-owned subsidiaries, is a leading issuer of fixed index annuities through independent agents, banks and broker-dealers. American Equity Investment Life Holding Company, a New York Stock Exchange listed company (NYSE: AEL), is headquartered in West Des Moines, Iowa. For more information, please visit www.american-equity.com.

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FAQ

What is the dividend amount for AEL's Series A Preferred Stock?

The dividend for the Series A Preferred Stock is $371.875 per share, or $0.371875 per Depositary Share.

When will the dividends for AEL's Preferred Stocks be paid?

The dividends will be payable on March 1, 2021.

Who qualifies for the AEL Preferred Stock dividends?

Shareholders of record as of February 15, 2021, will qualify for the dividends.

What are the symbols for AEL's Preferred Stocks on the NYSE?

The symbols are AELPRA for Series A and AELPRB for Series B on the NYSE.

Is the dividend for AEL's Preferred Stocks sustainable?

The press release indicates continued dividend payments, suggesting sustainability, but further financial analysis is needed for a definitive conclusion.