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:
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:
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%.