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| Sun Life Financial's Preferred Series 8R Shares Cross 3% Yield MarkBy Preferred Stock Channel Staff, Tuesday, February 16, 3:36 PM ET
In trading on Tuesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 8R (TSE:SLF.PRG.CA) were yielding above the 3% mark based on its quarterly dividend (annualized to $0.4563), with shares changing hands as low as $15.05 on the day. As of last close, SLF.PRG.CA was trading at a 39.40% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible. 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.PRG.CA shares, versus SLF.CA:
Below is a dividend history chart for SLF.PRG.CA, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 8R:
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 Rate Reset Preferred Shares Series 8R (TSE:SLF.PRG.CA) is currently down about 0.7% on the day, while the common shares (TSE:SLF.CA) are off about 0.3%.
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