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| Goldman Sachs Group's Preferred Stock, Series K Crosses Above 6.5% Yield TerritoryBy Preferred Stock Channel Staff, Thursday, May 4, 2:17 PM ET
In trading on Thursday, shares of Goldman Sachs Group Inc's 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K (NYSE:GS.PRK) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.5938), with shares changing hands as low as $24.25 on the day. This compares to an average yield of 7.00% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, GS.PRK was trading at a 1.04% discount to its liquidation preference amount, versus the average discount of 12.50% 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 GS.PRK shares, versus GS:
Below is a dividend history chart for GS.PRK, showing historical dividend payments on Goldman Sachs Group Inc's 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Thursday trading, Goldman Sachs Group Inc's 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K (NYSE:GS.PRK) is currently off about 1.7% on the day, while the common shares (NYSE:GS) are off about 2.2%.
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