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| Lincoln National's Preferred Stock, Series D Crosses Above 8.5% Yield TerritoryBy Preferred Stock Channel Staff, Thursday, October 12, 2:30 PM ET
In trading on Thursday, shares of Lincoln National Corp.'s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D (NYSE:LNC.PRD) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $2.25), with shares changing hands as low as $26.35 on the day. This compares to an average yield of 7.23% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, LNC.PRD was trading at a 6.28% premium to its liquidation preference amount, versus the average discount of 16.70% 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 LNC.PRD shares, versus LNC:
Below is a dividend history chart for LNC.PRD, showing historical dividend payments on Lincoln National Corp.'s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D:
Free Report: Top 8%+ Dividends (paid monthly) In Thursday trading, Lincoln National Corp.'s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D (NYSE:LNC.PRD) is currently down about 0.8% on the day, while the common shares (NYSE:LNC) are down about 2.7%.
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