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| New York Community Bancorp Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock Ex-Dividend ReminderBy Preferred Stock Channel Staff, Monday, March 4, 1:55 PM ET
On 3/6/24, New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (NYSE:NYCB.PRA) will trade ex-dividend, for its quarterly dividend of $0.3984, payable on 3/17/24. As a percentage of NYCB.PRA's recent share price of $15.38, this dividend works out to approximately 2.59%, so look for shares of NYCB.PRA to trade 2.59% lower — all else being equal — when NYCB.PRA shares open for trading on 3/6/24. On an annualized basis, the current yield is approximately 9.53%, which compares to an average yield of 6.71% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, NYCB.PRA was trading at a 33.12% discount to its liquidation preference amount. 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 NYCB.PRA shares, versus NYCB:
Below is a dividend history chart for NYCB.PRA, showing historical dividends prior to the most recent $0.3984 on New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock : Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Monday trading, New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (NYSE:NYCB.PRA) is currently off about 8% on the day, while the common shares (NYSE:NYCB) are off about 15.2%.
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