Royal Bank of Canada's Preferred Shares, Series AL, Cross 4% Yield Mark

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In trading on Thursday, shares of Royal Bank of Canada's Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AL (TSX: RY-PRL.TO ) were yielding above the 4% mark based on its quarterly dividend (annualized to $1.065), with shares changing hands as low as $26.52 on the day. As of last close, RY.PRL was trading at a 6.64% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible . 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 RY.PRL shares, versus RY:

Performance Comparison Chart


Below is a dividend history chart for RY.PRL, showing historical dividend payments on Royal Bank of Canada's Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AL:

RY.PRL+Dividend+History+Chart

In Thursday trading, Royal Bank of Canada's Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AL (TSX: RY-PRL.TO ) is currently down about 0.5% on the day, while the common shares (TSX: RY.TO ) are off about 0.6%.

Click here to find out which 9 other Canadian dividend stocks just recently went ''on sale'' and crossed into new yield territory »



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




This article appears in: Investing , Investing Ideas

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