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Citigroup's Preferred Stock, Series K Shares Cross 6% Yield Mark

By Preferred Stock Channel Staff, Thursday, June 10, 2:12 PM ET
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In trading on Thursday, shares of Citigroup Inc's 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K (NYSE:C.PRK) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.7188), with shares changing hands as low as $28.60 on the day. This compares to an average yield of 5.30% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, C.PRK was trading at a 14.76% premium to its liquidation preference amount, versus the average premium of 6.79% 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 C.PRK shares, versus C:

Performance Comparison Chart

Below is a dividend history chart for C.PRK, showing historical dividend payments on Citigroup Inc's 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K:


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In Thursday trading, Citigroup Inc's 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K (NYSE:C.PRK) is currently trading flat on the day, while the common shares (NYSE:C) are down about 0.7%.


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