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Rexnord's Series A Preferred Stock Shares Cross 5.5% Yield Mark

In trading on Tuesday, shares of Rexnord Corp's 5.75% Series A Mandatory Convertible Preferred Stock (Symbol: RXN.PRA) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $2.875), with shares changing hands as low as $52.18 on the day. As of last close, RXN.PRA was trading at a 111.44% premium to its liquidation preference amount.

The chart below shows the one year performance of RXN.PRA shares, versus RXN:

Performance Comparison Chart

Below is a dividend history chart for RXN.PRA, showing historical dividend payments on Rexnord Corp's 5.75% Series A Mandatory Convertible Preferred Stock:

RXN.PRA+Dividend+History+Chart

In Tuesday trading, Rexnord Corp's 5.75% Series A Mandatory Convertible Preferred Stock (Symbol: RXN.PRA) is currently off about 0.7% on the day, while the common shares (Symbol: RXN) are down about 1.4%.

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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