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OFG Bancorp's Non-cumulative Monthly Income Preferred Stock, Series A Shares Cross 9.5% Yield Mark

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Shutterstock photo

Shutterstock photo

In trading on Tuesday, shares of OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) were yielding above the 9.5% mark based on its monthly dividend (annualized to $1.7812), with shares changing hands as low as $18.65 on the day. This compares to an average yield of 5.50% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, OFG.PRA was trading at a 22.20% discount to its liquidation preference amount, versus the average premium of 4.08% 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 OFG.PRA shares, versus OFG:

Performance Comparison Chart

Below is a dividend history chart for OFG.PRA, showing historical dividend payments on OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A:

OFG.PRA+Dividend+History+Chart

In Tuesday trading, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) is currently off about 3.3% on the day, while the common shares (Symbol: OFG) are down about 4.1%.

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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