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 $25.73 on the day. This compares to an average yield of 5.69% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, BAC.PRD was trading at a 3.88% premium to its liquidation preference amount, versus the average premium of 2.98% 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.
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:
In Tuesday trading, Bank of America Corp.'s 6.204% Non-Cumulative Preferred Stock, Series D (Symbol: BAC.PRD) is currently off about 0.2% on the day, while the common shares (Symbol: BAC) are up about 0.2%.