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| KeyCorp's Preferred Stock, Series G Shares Cross 7% Yield MarkBy Preferred Stock Channel Staff, Monday, June 5, 2:40 PM ET
In trading on Monday, shares of KeyCorp's 5.625% Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G (NYSE:KEY.PRK) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.4063), with shares changing hands as low as $19.70 on the day. This compares to an average yield of 6.81% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, KEY.PRK was trading at a 17.88% discount to its liquidation preference amount, versus the average discount of 13.13% 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 KEY.PRK shares, versus KEY:
Below is a dividend history chart for KEY.PRK, showing historical dividend payments on KeyCorp's 5.625% Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G :
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Monday trading, KeyCorp's 5.625% Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G (NYSE:KEY.PRK) is currently off about 2% on the day, while the common shares (NYSE:KEY) are down about 0.4%.
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