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| State Street's Preferred Stock, Series G Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Thursday, May 4, 2:16 PM ET
In trading on Thursday, shares of State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (NYSE:STT.PRG) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3372), with shares changing hands as low as $23.86 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, STT.PRG was trading at a 1.84% 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 STT.PRG shares, versus STT:
Below is a dividend history chart for STT.PRG, showing historical dividend payments on State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G :
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Thursday trading, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (NYSE:STT.PRG) is currently off about 1.6% on the day, while the common shares (NYSE:STT) are down about 3.5%.
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