DCP Midstream's Series C Preferred Units Yield Pushes Past 8%

In trading on Tuesday, shares of DCP Midstream LP's 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Symbol: DCP.PRC) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.9876), with shares changing hands as low as $24.69 on the day. This compares to an average yield of 9.40% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, DCP.PRC was trading at a 0.04% discount to its liquidation preference amount, versus the average discount of 2.93% in the "Energy" category.

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Below is a dividend history chart for DCP.PRC, showing historical dividend payments on DCP Midstream LP's 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units:

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In Tuesday trading, DCP Midstream LP's 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Symbol: DCP.PRC) is currently down about 1.2% on the day, while the common shares (Symbol: DCP) are up about 0.2%.

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