In trading on Thursday, shares of Capital One Financial Corp's 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I (Symbol: COF.PRI) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.25), with shares changing hands as low as $19.21 on the day. This compares to an average yield of 6.56% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, COF.PRI was trading at a 22.60% discount to its liquidation preference amount, versus the average discount of 10.86% 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.
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The chart below shows the one year performance of COF.PRI shares, versus COF:
Below is a dividend history chart for COF.PRI, showing historical dividend payments on Capital One Financial Corp's 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I :
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In Thursday trading, Capital One Financial Corp's 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I (Symbol: COF.PRI) is currently down about 0.6% on the day, while the common shares (Symbol: COF) are down about 0.5%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
