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| RenaissanceRe Holdings' SERIES F PREFERENCE Shares Cross 6% Yield MarkBy Preferred Stock Channel Staff, Friday, December 29, 2:36 PM ET
In trading on Friday, shares of RenaissanceRe Holdings Ltd.'s 5.750% SERIES F PREFERENCE SHARES (NYSE:RNR.PRF) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.4375), with shares changing hands as low as $23.89 on the day. This compares to an average yield of 6.79% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, RNR.PRF was trading at a 4.08% discount to its liquidation preference amount, versus the average discount of 11.58% 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 RNR.PRF shares, versus RNR:
Below is a dividend history chart for RNR.PRF, showing historical dividend payments on RenaissanceRe Holdings Ltd.'s 5.750% SERIES F PREFERENCE SHARES:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Friday trading, RenaissanceRe Holdings Ltd.'s 5.750% SERIES F PREFERENCE SHARES (NYSE:RNR.PRF) is currently down about 0.3% on the day, while the common shares (NYSE:RNR) are up about 0.6%.
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