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| State Street's Preferred Stock, Series G Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Monday, April 1, 2:07 PM ET
In trading on Monday, shares of State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (NYSE:STT.PRG) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3375), with shares changing hands as low as $24.25 on the day. This compares to an average yield of 6.67% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, STT.PRG was trading at a 2.04% discount to its liquidation preference amount, versus the average discount of 9.31% 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 STT.PRG shares, versus STT:
Below is a dividend history chart for STT.PRG, showing historical dividend payments on State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G :
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Monday trading, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (NYSE:STT.PRG) is currently off about 0.2% on the day, while the common shares (NYSE:STT) are off about 0.6%.
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