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| Stifel Financial's Preferred Stock Series D Crosses Above 7% Yield TerritoryBy Preferred Stock Channel Staff, Tuesday, September 5, 3:08 PM ET
In trading on Tuesday, shares of Stifel Financial Corporation's 4.50% Dep Shares Non-Cumulative Preferred Stock Series D (NYSE:SF.PRD) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.125), with shares changing hands as low as $16.04 on the day. This compares to an average yield of 6.98% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SF.PRD was trading at a 35.24% discount to its liquidation preference amount, versus the average discount of 13.83% 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 SF.PRD shares, versus SF:
Below is a dividend history chart for SF.PRD, showing historical dividend payments on Stifel Financial Corporation's 4.50% Dep Shares Non-Cumulative Preferred Stock Series D:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, Stifel Financial Corporation's 4.50% Dep Shares Non-Cumulative Preferred Stock Series D (NYSE:SF.PRD) is currently down about 0.6% on the day, while the common shares (NYSE:SF) are down about 0.5%.
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