Markets

Charles Schwab's Preferred Stock, Series C Shares Cross 6% Yield Mark

In trading on Wednesday, shares of The Charles Schwab Corporation's 6.00% Non-Cumulative Perpetual Preferred Stock, Series C (Symbol: SCHW.PRC) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $24.90 on the day. This compares to an average yield of 5.46% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SCHW.PRC was trading at a 1.48% premium to its liquidation preference amount, versus the average premium of 6.28% 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 SCHW.PRC, showing historical dividend payments on The Charles Schwab Corporation's 6.00% Non-Cumulative Perpetual Preferred Stock, Series C :

SCHW.PRC+Dividend+History+Chart

In Wednesday trading, The Charles Schwab Corporation's 6.00% Non-Cumulative Perpetual Preferred Stock, Series C (Symbol: SCHW.PRC) is currently trading flat on the day, while the common shares (Symbol: SCHW) are down about 1.4%.

Click here to find out the 50 highest yielding preferreds »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

SCHW

Other Topics

Stocks Fixed Income

Latest Markets Videos

    BNK Invest

    BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally.

    Learn More