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Bank of America's Preferred Stock, Series D Shares Cross 6% Yield Mark


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In trading on Tuesday, shares of Bank of America Corp.'s 6.204% Non-Cumulative Preferred Stock, Series D (Symbol: BAC.PRD) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.551), with shares changing hands as low as $25.83 on the day. This compares to an average yield of 5.37% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, BAC.PRD was trading at a 3.52% premium to its liquidation preference amount, versus the average premium of 6.32% 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.

Performance Comparison Chart

Below is a dividend history chart for BAC.PRD, showing historical dividend payments on Bank of America Corp.'s 6.204% Non-Cumulative Preferred Stock, Series D:

BAC.PRD+Dividend+History+Chart

In Tuesday trading, Bank of America Corp.'s 6.204% Non-Cumulative Preferred Stock, Series D (Symbol: BAC.PRD) is currently trading flat on the day, while the common shares (Symbol: BAC) are up about 2.7%.

Click here to find out the 50 highest yielding preferreds »

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



This article appears in: Investing , Investing Ideas
Referenced Symbols: BAC.PRD , BAC


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