Sun Life Financial's Preferred Series 10R Shares Cross 5.5% Yield Mark
In trading on Thursday, shares of Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 10R (TSX: SLF-PRH.TO ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $0.975), with shares changing hands as low as $17.60 on the day. As of last close, SLF.PRH was trading at a 29.00% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible . 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 SLF.PRH shares, versus SLF:
Below is a dividend history chart for SLF.PRH, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 10R:
In Thursday trading, Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 10R (TSX: SLF-PRH.TO ) is currently down about 0.1% on the day, while the common shares (TSX: SLF.TO ) are off about 0.4%.