In trading on Monday, shares of KeyCorp's Fixed -to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E (Symbol: KEY.PRI) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.5313), with shares changing hands as low as $23.54 on the day. This compares to an average yield of 6.68% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, KEY.PRI was trading at a 2.60% discount to its liquidation preference amount, versus the average discount of 11.66% 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.
PBSK shares outstanding history
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The chart below shows the one year performance of KEY.PRI shares, versus KEY:
Below is a dividend history chart for KEY.PRI, showing historical dividend payments on KeyCorp's Fixed -to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E :
In Monday trading, KeyCorp's Fixed -to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E (Symbol: KEY.PRI) is currently off about 1.2% on the day, while the common shares (Symbol: KEY) are up about 0.1%.
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