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| Avid Bioservices' Series E Preferred Stock Shares Cross 9% Yield MarkBy Preferred Stock Channel Staff, Tuesday, March 9, 2:15 PM ET
In trading on Tuesday, shares of Avid Bioservices Inc's 10.50% Series E Convertible Preferred Stock (CDMOP) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.625), with shares changing hands as low as $25.09 on the day. This compares to an average yield of 9.28% in the "Drugs & Pharmaceuticals" preferred stock category, according to Preferred Stock Channel. As of last close, CDMOP was trading at a 18.64% premium to its liquidation preference amount, versus the average discount of 7.02% in the "Drugs & Pharmaceuticals" category. It should be noted that the preferred shares are convertible, with a conversion ratio of $3 . The chart below shows the one year performance of CDMOP shares, versus CDMO:
Below is a dividend history chart for CDMOP, showing historical dividend payments on Avid Bioservices Inc's 10.50% Series E Convertible Preferred Stock:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, Avid Bioservices Inc's 10.50% Series E Convertible Preferred Stock (CDMOP) is currently off about 13.8% on the day, while the common shares (NASDAQ:CDMO) are up about 10.3%.
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