Citigroup's Preferred Securities Yield Pushes Past 10.5%

In trading on Friday, shares of Citigroup Inc's 7.875% Fixed Rate/Floating Rate Trust Preferred Securities (Symbol: C.PRN) were yielding above the 10.5% mark based on its quarterly dividend (annualized to $3.0722), with shares changing hands as low as $28.71 on the day. This compares to an average yield of 6.63% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, C.PRN was trading at a 17.80% premium to its liquidation preference amount, versus the average discount of 9.35% in the "Financial" category.

The chart below shows the one year performance of C.PRN shares, versus C:

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Below is a dividend history chart for C.PRN, showing historical dividend payments on Citigroup Inc's 7.875% Fixed Rate/Floating Rate Trust Preferred Securities:

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In Friday trading, Citigroup Inc's 7.875% Fixed Rate/Floating Rate Trust Preferred Securities (Symbol: C.PRN) is currently up about 0.5% on the day, while the common shares (Symbol: C) are up about 0.1%.

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