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| Sun Life Financial's Preferred Shares Series 4 Crosses Above 6% Yield TerritoryBy Preferred Stock Channel Staff, Tuesday, April 2, 3:27 PM ET
In trading on Tuesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 4 (TSE:SLF.PRD.CA) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.1125), with shares changing hands as low as $18.50 on the day. As of last close, SLF.PRD.CA was trading at a 25.04% discount to its liquidation preference amount. 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 SLF.PRD.CA shares, versus SLF.CA:
Below is a dividend history chart for SLF.PRD.CA, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 4:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 4 (TSE:SLF.PRD.CA) is currently down about 1.1% on the day, while the common shares (TSE:SLF.CA) are down about 1.1%.
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