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| AXIS Capital Holdings' Series E Preferred Shares Cross 6.5% Yield MarkBy Preferred Stock Channel Staff, Monday, April 15, 2:55 PM ET
In trading on Monday, shares of AXIS Capital Holdings Ltd's 5.50% SERIES E PREFERRED SHARE (NYSE:AXS.PRE) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $20.69 on the day. This compares to an average yield of 6.77% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, AXS.PRE was trading at a 14.92% discount to its liquidation preference amount, versus the average discount of 11.00% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of AXS.PRE shares, versus AXS:
Below is a dividend history chart for AXS.PRE, showing historical dividend payments on AXIS Capital Holdings Ltd's 5.50% SERIES E PREFERRED SHARE:
Free Report: Top 8%+ Dividends (paid monthly) In Monday trading, AXIS Capital Holdings Ltd's 5.50% SERIES E PREFERRED SHARE (NYSE:AXS.PRE) is currently down about 2.2% on the day, while the common shares (NYSE:AXS) are up about 0.1%.
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