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| Cyclacel Pharmaceuticals' Preferred Stock Crosses Above 3.5% Yield TerritoryBy Preferred Stock Channel Staff, Wednesday, August 16, 2:07 PM ET
In trading on Wednesday, shares of Cyclacel Pharmaceuticals Inc's 6% Convertible Exchangeable Preferred Stock (NASDAQ:CYCCP) were yielding above the 3.5% mark based on its quarterly dividend (annualized to $0.60), with shares changing hands as low as $16.70 on the day. This compares to an average yield of 8.84% in the "Drugs & Pharmaceuticals" preferred stock category, according to Preferred Stock Channel. As of last close, CYCCP was trading at a 89.50% premium to its liquidation preference amount, versus the average premium of 11.68% in the "Drugs & Pharmaceuticals" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 4.2553. The chart below shows the one year performance of CYCCP shares, versus CYCC:
Below is a dividend history chart for CYCCP, showing historical dividend payments on Cyclacel Pharmaceuticals Inc's 6% Convertible Exchangeable Preferred Stock:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Cyclacel Pharmaceuticals Inc's 6% Convertible Exchangeable Preferred Stock (NASDAQ:CYCCP) is currently trading flat on the day, while the common shares (NASDAQ:CYCC) are up about 0.4%.
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