Sun Life Financial's Preferred Shares Series 4 Crosses Above 5% Yield Territory
In trading on Tuesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 4 (TSX: SLF-PRD.TO ) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.1125), with shares changing hands as low as $22.19 on the day. As of last close, SLF.PRD was trading at a 10.36% 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.PRD shares, versus SLF:
Below is a dividend history chart for SLF.PRD, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 4:
In Tuesday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 4 (TSX: SLF-PRD.TO ) is currently off about 0.7% on the day, while the common shares (TSX: SLF.TO ) are off about 0.5%.