Sun Life Financial's Preferred Series 2 Shares Cross 5.5% Yield Mark
In trading on Thursday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2 (TSX: SLF-PRB.TO ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.20), with shares changing hands as low as $21.56 on the day. As of last close, SLF.PRB was trading at a 11.96% 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 SLF.PRB shares, versus SLF:
Below is a dividend history chart for SLF.PRB, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2:
In Thursday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2 (TSX: SLF-PRB.TO ) is currently down about 0.2% on the day, while the common shares (TSX: SLF.TO ) are down about 1.4%.
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