Sun Life Financial's Preferred Series 3 Shares Cross 5.5% Yield Mark
In trading on Tuesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 3 (TSX: SLF-PRC.TO) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.1125), with shares changing hands as low as $20.21 on the day. As of last close, SLF.PRC was trading at a 17.88% 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.PRC shares, versus SLF:
Below is a dividend history chart for SLF.PRC, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 3:
In Tuesday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 3 (TSX: SLF-PRC.TO) is currently down about 0.2% on the day, while the common shares (TSX: SLF.TO) are up about 0.4%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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