In trading on Tuesday, shares of SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (Symbol: SLMBP) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $6.0487), with shares changing hands as low as $70.58 on the day. This compares to an average yield of 6.74% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SLMBP was trading at a 26.14% discount to its liquidation preference amount, versus the average discount of 10.55% 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.
BRKL Historical Stock Prices
Institutional Holders of NIB
The chart below shows the one year performance of SLMBP shares, versus SLM:
Below is a dividend history chart for SLMBP, showing historical dividend payments on SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share:
In Tuesday trading, SLM Corp.'s Floating-Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (Symbol: SLMBP) is currently trading flat on the day, while the common shares (Symbol: SLM) are down about 14.2%.
Also see:
ETFs Holding HYH BRKL Historical Stock Prices
Institutional Holders of NIB
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
