Sun Life Financial's Preferred Shares Series 1 Yield Pushes Past 5%
In trading on Friday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 1 (TSX: SLF-PRA.TO ) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $23.71 on the day. As of last close, SLF.PRA was trading at a 4.60% 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.PRA shares, versus SLF:
Below is a dividend history chart for SLF.PRA, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 1:
In Friday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 1 (TSX: SLF-PRA.TO ) is currently trading flat on the day, while the common shares (TSX: SLF.TO ) are down about 0.3%.