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| Pyxis Tankers' Series A Preferred Shares Yield Pushes Past 8%By Preferred Stock Channel Staff, Friday, December 1, 2:29 PM ET
In trading on Friday, shares of Pyxis Tankers Inc's 7.75% Series A Cumulative Convertible Preferred Shares (NASDAQ:PXSAP) were yielding above the 8% mark based on its monthly dividend (annualized to $1.938), with shares changing hands as low as $24.00 on the day. This compares to an average yield of 6.79% in the "Shipping" preferred stock category, according to Preferred Stock Channel. As of last close, PXSAP was trading at a 3.00% discount to its liquidation preference amount, versus the average discount of 7.98% in the "Shipping" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 17.86. The chart below shows the one year performance of PXSAP shares, versus PXS:
Below is a dividend history chart for PXSAP, showing historical dividend payments on Pyxis Tankers Inc's 7.75% Series A Cumulative Convertible Preferred Shares:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Friday trading, Pyxis Tankers Inc's 7.75% Series A Cumulative Convertible Preferred Shares (NASDAQ:PXSAP) is currently up about 1.8% on the day, while the common shares (NASDAQ:PXS) are up about 2.5%.
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