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| Synchrony Financial's Preferred Stock, Series A Shares Cross 9% Yield MarkBy Preferred Stock Channel Staff, Tuesday, October 3, 2:08 PM ET
In trading on Tuesday, shares of Synchrony Financial's 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE:SYF.PRA) were yielding above the 9% mark based on its quarterly dividend (annualized to $1.4063), with shares changing hands as low as $15.55 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, SYF.PRA was trading at a 36.20% 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 SYF.PRA shares, versus SYF:
Below is a dividend history chart for SYF.PRA, showing historical dividend payments on Synchrony Financial's 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A:
Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, Synchrony Financial's 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE:SYF.PRA) is currently down about 2% on the day, while the common shares (NYSE:SYF) are off about 4.2%.
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