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| Capital One Financial's Preferred Stock Series K Yield Pushes Past 7%By Preferred Stock Channel Staff, Tuesday, October 3, 2:12 PM ET
In trading on Tuesday, shares of Capital One Financial Corp's 4.625% Dep Shares Non-Cumul Perp Pfd Stock Series K (NYSE:COF.PRK) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.1562), with shares changing hands as low as $16.25 on the day. This compares to an average yield of 7.13% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, COF.PRK was trading at a 32.92% discount to its liquidation preference amount, versus the average discount of 15.63% 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 COF.PRK shares, versus COF:
Below is a dividend history chart for COF.PRK, showing historical dividend payments on Capital One Financial Corp's 4.625% Dep Shares Non-Cumul Perp Pfd Stock Series K:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Tuesday trading, Capital One Financial Corp's 4.625% Dep Shares Non-Cumul Perp Pfd Stock Series K (NYSE:COF.PRK) is currently off about 2.8% on the day, while the common shares (NYSE:COF) are trading flat.
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