Toronto Dominion Bank's Preferred Shares, Series Y Crosses Above 3.5% Yield Territory

By
A A A

In trading on Thursday, shares of Toronto Dominion Bank's Non-Cumulative 5-Year Rate Reset Preferred Shares, Series Y (TSX: TD-PRY.TO ) were yielding above the 3.5% mark based on its quarterly dividend (annualized to $0.8899), with shares changing hands as low as $25.38 on the day. As of last close, TD.PRY was trading at a 1.88% 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 TD.PRY shares, versus TD:

Performance Comparison Chart

Below is a dividend history chart for TD.PRY, showing historical dividend payments on Toronto Dominion Bank's Non-Cumulative 5-Year Rate Reset Preferred Shares, Series Y:

TD.PRY+Dividend+History+Chart

In Thursday trading, Toronto Dominion Bank's Non-Cumulative 5-Year Rate Reset Preferred Shares, Series Y (TSX: TD-PRY.TO ) is currently down about 0.3% on the day, while the common shares (Symbol: TD) are off about 1.6%.



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

Referenced Stocks: TD

BNK Invest

BNK Invest

More from BNK Invest:

Related Videos

Stocks

Referenced

50%

Most Active by Volume

56,834,794
    $15.52 unch
47,736,761
  • $94.72 ▲ 0.83%
41,992,984
  • $2.47 ▲ 11.76%
40,893,734
  • $34.7901 ▲ 2.14%
39,324,803
  • $69.27 ▼ 0.19%
39,276,613
  • $7.28 ▲ 2.68%
39,084,483
  • $44.83 ▼ 0.01%
33,527,212
  • $26.02 ▲ 0.15%
As of 7/22/2014, 04:03 PM