Markets

Royal Bank of Canada's Preferred Shares, Series W, Cross 5% Yield Mark

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Wednesday, shares of Royal Bank of Canada (Montreal, Quebec)'s Non-Cumulative First Preferred Shares Series W (TSX: RY-PRW.TO ) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.225), with shares changing hands as low as $24.40 on the day. As of last close, RY.PRW was trading at a 1.72% discount to its liquidation preference amount. 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 RY.PRW shares, versus RY:

Performance Comparison Chart

Below is a dividend history chart for RY.PRW, showing historical dividend payments on Royal Bank of Canada (Montreal, Quebec)'s Non-Cumulative First Preferred Shares Series W:

RY.PRW+Dividend+History+Chart

In Wednesday trading, Royal Bank of Canada (Montreal, Quebec)'s Non-Cumulative First Preferred Shares Series W (TSX: RY-PRW.TO ) is currently down about 0.4% on the day, while the common shares (TSX: RY.TO ) are off about 0.1%.

Click here to find out which 9 other Canadian dividend stocks just recently went ''on sale'' and crossed into new yield territory »

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.