In trading on Monday, shares of PG&E Corp's 5.5% 1st Preferred Non-Redeemable (Symbol: PCG.PRB) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $19.60 on the day. This compares to an average yield of 6.57% in the "Utilities" preferred stock category, according to Preferred Stock Channel. As of last close, PCG.PRB was trading at a 22.02% discount to its liquidation preference amount, versus the average discount of 18.96% in the "Utilities" 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.
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Below is a dividend history chart for PCG.PRB, showing historical dividend payments on PG&E Corp's 5.5% 1st Preferred Non-Redeemable:
In Monday trading, PG&E Corp's 5.5% 1st Preferred Non-Redeemable (Symbol: PCG.PRB) is currently off about 2.4% on the day, while the common shares (Symbol: PCG) are up about 0.9%.
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