NYCB.PRA

New York Community Bancorp's Series A Preferred Stock Yield Pushes Past 9%

In trading on Tuesday, shares of New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (Symbol: NYCB.PRA) were yielding above the 9% mark based on its quarterly dividend (annualized to $1.5936), with shares changing hands as low as $17.70 on the day. This compares to an average yield of 6.72% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, NYCB.PRA was trading at a 28.84% discount to its liquidation preference amount, versus the average discount of 9.88% 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.

Performance Comparison Chart

Below is a dividend history chart for NYCB.PRA, showing historical dividend payments on New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock :

NYCB.PRA+Dividend+History+Chart


Free Report: Top 8%+ Dividends (paid monthly)

In Tuesday trading, New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (Symbol: NYCB.PRA) is currently off about 0.4% on the day, while the common shares (Symbol: NYCB) are off about 2.8%.

Click here to find out the 50 highest yielding preferreds »

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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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