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Goldman Sachs Group's Preferred Stock, Series C Crosses Above 4.5% Yield Territory

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Shutterstock photo

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In trading on Tuesday, shares of Goldman Sachs Group Incorporated's Floating Rate Non-Cumulative Preferred Stock, Series C (Symbol: GS.PRC) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $1.0222), with shares changing hands as low as $22.39 on the day. This compares to an average yield of 5.42% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, GS.PRC was trading at a 8.64% discount to its liquidation preference amount, versus the average premium of 6.75% 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.

The chart below shows the one year performance of GS.PRC shares, versus GS:

Performance Comparison Chart

Below is a dividend history chart for GS.PRC, showing historical dividend payments on Goldman Sachs Group Incorporated's Floating Rate Non-Cumulative Preferred Stock, Series C :

GS.PRC+Dividend+History+Chart

In Tuesday trading, Goldman Sachs Group Incorporated's Floating Rate Non-Cumulative Preferred Stock, Series C (Symbol: GS.PRC) is currently down about 1.2% on the day, while the common shares (Symbol: GS) are up about 0.1%.

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


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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