IOn trading Wednesday, shares of New York Community Bancorp Inc.’s 6.375% share of Variable Fixed Rate Perpetual Non-Cumulative Preferred Shares Series A (ticker: NYCB.PRA) were falling above the 5 mark. 5% based on its quarterly dividend (annualized at $ 1.5936), with stocks changing hands as low as $ 28.92 on the day. This compares to an average return of 5.28% in the “Financial” preferred share category, according to Favorite Stock Channel. At the last close, NYCB.PRA was trading at a premium of 16.16% over its liquidation preference amount, compared to an average premium of 7.01% in the “Financial” category. Investors should keep in mind that shares are not cumulative, which means 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 an ordinary 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 the dividend payment history on the 6.375% share of the New York Floating Fixed Rate Series A perpetual non-cumulative preferred shares. Community Bancorp Inc .:
On Wednesday’s trading, the 6.375% share of New York Community Bancorp Inc.’s non-cumulative fixed rate perpetual preferred stock Series A (ticker: NYCB.PRA) is currently trading flat on the day, while common stocks (ticker: NYCB) are up about 0.1%.
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