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| KeyCorp's Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E Shares Cross 7% Yield MarkBy Preferred Stock Channel Staff, Friday, August 4, 2:06 PM ET
In trading on Friday, shares of KeyCorp's Fixed -to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E (NYSE:KEY.PRI) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.5313), with shares changing hands as low as $21.82 on the day. This compares to an average yield of 6.86% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, KEY.PRI was trading at a 12.36% discount to its liquidation preference amount, versus the average discount of 13.79% 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.PRI shares, versus KEY:
Below is a dividend history chart for KEY.PRI, showing historical dividend payments on KeyCorp's Fixed -to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E :
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Friday trading, KeyCorp's Fixed -to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E (NYSE:KEY.PRI) is currently up about 1% on the day, while the common shares (NYSE:KEY) are off about 0.4%.
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