Markets

State Street's Preferred Stock, Series G Shares Cross 5% Yield Mark

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Wednesday, shares of State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (Symbol: STT.PRG) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.3372), with shares changing hands as low as $26.72 on the day. This compares to an average yield of 5.52% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, STT.PRG was trading at a 8.00% premium to its liquidation preference amount, versus the average premium of 5.74% 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.

Performance Comparison Chart

Below is a dividend history chart for STT.PRG, showing historical dividend payments on State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G :

STT.PRG+Dividend+History+Chart

In Wednesday trading, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (Symbol: STT.PRG) is currently down about 0.6% on the day, while the common shares (Symbol: STT) are off about 0.1%.

Click here to find out the 50 highest yielding preferreds »

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.

In This Story

STT.PRG STT

Latest Markets Videos