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Northern Trust's Series C Preferred Stock Crosses Above 5.5% Yield Territory

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Wednesday, shares of Northern Trust Corp's Series C Non-Cumulative Perpetual Preferred Stock (Symbol: NTRSP) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.4625), with shares changing hands as low as $26.42 on the day. This compares to an average yield of 5.62% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, NTRSP was trading at a 7.76% premium to its liquidation preference amount, versus the average premium of 4.97% 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 NTRSP shares, versus NTRS:

Performance Comparison Chart

Below is a dividend history chart for NTRSP, showing historical dividend payments on Northern Trust Corp's Series C Non-Cumulative Perpetual Preferred Stock :

NTRSP+Dividend+History+Chart

In Wednesday trading, Northern Trust Corp's Series C Non-Cumulative Perpetual Preferred Stock (Symbol: NTRSP) is currently up about 0.4% on the day, while the common shares (Symbol: NTRS) are off about 1.2%.

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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