yield calculation the yield calculation for preferred shares as currently stated is incorrect you cannot calculate yield of preferred shares with a bond calculator due to accrued interest bonds got it prefs don't additionally while the sum of current yield and amortization of the discount premium to redemption is a good approximation of the yield it should be clearly stated that it is only a rough approximation even when the amortization is calculated as carefully as suggested see for a discussion and link to a calculator of preferred share yield calculation