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| Charles Schwab's Preferred Stock, Series D Crosses Above 6% Yield TerritoryBy Preferred Stock Channel Staff, Thursday, June 15, 2:31 PM ET
In trading on Thursday, shares of The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:SCHW.PRD) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.488), with shares changing hands as low as $24.72 on the day. This compares to an average yield of 6.92% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SCHW.PRD was trading at a 0.24% discount to its liquidation preference amount, versus the average discount of 14.63% 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 SCHW.PRD shares, versus SCHW:
Below is a dividend history chart for SCHW.PRD, showing historical dividend payments on The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Thursday trading, The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:SCHW.PRD) is currently off about 0.6% on the day, while the common shares (NYSE:SCHW) are up about 0.9%.
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