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Arch Capital Group's Preferred Shares, Series E Yield Pushes Past 5.5%

In trading on Thursday, shares of Arch Capital Group Ltd's 5.25% Non-Cumulative Preferred Shares, Series E (Symbol: ACGLP) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3125), with shares changing hands as low as $23.83 on the day. This compares to an average yield of 3.97% in the "Insurance Brokers" preferred stock category, according to Preferred Stock Channel. As of last close, ACGLP was trading at a 3.36% discount to its liquidation preference amount, versus the average premium of 1.42% in the "Insurance Brokers" 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.

The chart below shows the one year performance of ACGLP shares, versus ACGL:

Performance Comparison Chart

Below is a dividend history chart for ACGLP, showing historical dividend payments on Arch Capital Group Ltd's 5.25% Non-Cumulative Preferred Shares, Series E :

ACGLP+Dividend+History+Chart

In Thursday trading, Arch Capital Group Ltd's 5.25% Non-Cumulative Preferred Shares, Series E (Symbol: ACGLP) is currently up about 0.3% on the day, while the common shares (Symbol: ACGL) are up about 0.5%.

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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