Sun Life Financial's Preferred Series 12R Shares Cross 4% Yield Mark
In trading on Tuesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 12R (TSX: SLF-PRI.TO ) were yielding above the 4% mark based on its quarterly dividend (annualized to $0.9515), with shares changing hands as low as $23.77 on the day. As of last close, SLF.PRI was trading at a 4.52% 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.PRI shares, versus SLF:
Below is a dividend history chart for SLF.PRI, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 12R:
In Tuesday trading, Sun Life Financial Inc's Class A Non-Cumulative Rate Reset Preferred Shares Series 12R (TSX: SLF-PRI.TO ) is currently off about 0.4% on the day, while the common shares (TSX: SLF.TO ) are up about 0.5%.
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