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| JPMorgan Chase's Preferred Stock Series GG Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Monday, April 15, 2:35 PM ET
In trading on Monday, shares of JPMorgan Chase & Co's 4.75% Dep Shares Non-Cumulative Preferred Stock Series GG (NYSE:JPM.PRJ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $21.07 on the day. This compares to an average yield of 6.77% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, JPM.PRJ was trading at a 13.12% discount to its liquidation preference amount, versus the average discount of 11.00% 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 JPM.PRJ shares, versus JPM:
Below is a dividend history chart for JPM.PRJ, showing historical dividend payments on JPMorgan Chase & Co's 4.75% Dep Shares Non-Cumulative Preferred Stock Series GG:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Monday trading, JPMorgan Chase & Co's 4.75% Dep Shares Non-Cumulative Preferred Stock Series GG (NYSE:JPM.PRJ) is currently down about 2.4% on the day, while the common shares (NYSE:JPM) are up about 0.2%.
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