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