BAC.PRB

Bank of America's Preferred Stock, Series GG Crosses Above 6% Yield Territory

In trading on Tuesday, shares of Bank of America Corp's 6.000% Non-Cumulative Preferred Stock, Series GG (Symbol: BAC.PRB) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $24.85 on the day. This compares to an average yield of 6.75% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BAC.PRB was trading at a 1.08% premium to its liquidation preference amount, versus the average discount of 10.88% 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.PRB, showing historical dividend payments on Bank of America Corp's 6.000% Non-Cumulative Preferred Stock, Series GG :

BAC.PRB+Dividend+History+Chart


Free Report: Top 8%+ Dividends (paid monthly)

In Tuesday trading, Bank of America Corp's 6.000% Non-Cumulative Preferred Stock, Series GG (Symbol: BAC.PRB) is currently down about 0.1% on the day, while the common shares (Symbol: BAC) are down about 0.7%.

Click here to find out the 50 highest yielding preferreds »

Also see:
• Top Ten Hedge Funds Holding STRO
• Institutional Holders of YOD
• Institutional Holders of PICB

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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