Markets

Chesapeake Energy Corp.'s 4.50% Cumulative Convertible Preferred Stock Shares Cross 10.5% Yield Mark

In trading on Friday, shares of Chesapeake Energy Corp.'s 4.50% Cumulative Convertible Preferred Stock (Symbol: CHK.PRD) were yielding above the 10.5% mark based on its quarterly dividend (annualized to $4.50), with shares changing hands as low as $41.00 on the day. This compares to an average yield of 0.00% in the "Oil & Gas Exploration & Production" preferred stock category, according to Preferred Stock Channel. As of last close, CHK.PRD was trading at a 57.01% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 2.2639.

The chart below shows the one year performance of CHK.PRD shares, versus CHK:

Performance Comparison Chart

Below is a dividend history chart for CHK.PRD, showing historical dividend payments on Chesapeake Energy Corp.'s 4.50% Cumulative Convertible Preferred Stock :

CHK.PRD+Dividend+History+Chart

In Friday trading, Chesapeake Energy Corp.'s 4.50% Cumulative Convertible Preferred Stock (Symbol: CHK.PRD) is currently off about 2.9% on the day, while the common shares (Symbol: CHK) are off about 8.4%.

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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