In buying and selling on Tuesday, shares of Financial institution of America Corp’s 5.875% Non-Cumulative Most well-liked Inventory, Sequence HH (Image: BAC.PRK) have been yielding above the 6% mark primarily based on its quarterly dividend (annualized to $1.4688), with shares altering palms as little as $24.41 on the day. This compares to a mean yield of 6.59% within the “Monetary” most well-liked inventory class, in line with Preferred Stock Channel. As of final shut, BAC.PRK was buying and selling at a 1.04% low cost to its liquidation choice quantity, versus the common low cost of 10.08% within the “Monetary” class. Buyers ought to remember the fact that the shares should not cumulative, which means that within the occasion of a missed cost, the corporate doesn’t must pay the stability of missed dividends to most well-liked shareholders earlier than resuming a standard dividend.
Under is a dividend historical past chart for BAC.PRK, exhibiting historic dividend funds on Financial institution of America Corp’s 5.875% Non-Cumulative Most well-liked Inventory, Sequence HH :
Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday buying and selling, Financial institution of America Corp’s 5.875% Non-Cumulative Most well-liked Inventory, Sequence HH (Image: BAC.PRK) is at the moment up about 0.7% on the day, whereas the frequent shares (Image: BAC) are down about 0.9%.
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