New York Community Bancorp Series A Preferred Shares Cross 6.5% Yield Threshold

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IIn Friday’s trading, shares of New York Community Bancorp Inc.’s 6.375% share in Series A Fixed Rate Non-Cumulative Perpetual Preferred Stock (ticker: NYCB.PRA) were trading above the low mark. 6.5% based on its quarterly dividend (annualized to $1.5936), with shares changing hands as low as $24.48 on the day. That compares to an average return of 5.86% in the “financial” preferred stock category, according to Preferred Stock Channel. As of last close, NYCB.PRA was trading at a premium of 0.48% to its preferred liquidation amount, compared to an average discount of 8.17% in the “Financial” category. Investors should keep in mind that stocks are not cumulativemeaning that in the event of a missed payment, the company does not have to pay the balance of the missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one-year performance of NYCB.PRA shares, compared to NYCB:

Below is a historical dividend chart for NYCB.PRA, showing historical dividend payments on New York Community Bancorp Inc.’s 6.375% share of Series Floating Fixed Rate Non-Cumulative Perpetual Preferred Shares HAS :

NYCB.PRA+Dividend+Historical+Chart


Free report: Top 7%+ Dividends (paid monthly)

In Friday trading, New York Community Bancorp Inc.’s 6.375% stake in Series A Fixed Rate Non-Cumulative Perpetual Preferred Stock (ticker: NYCB.PRA) is currently down about 2.5% on on the day, while common stocks (Symbol: NYCB) are down about 1.6%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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