Sun Life Financial's Preferred Shares Series 4 Yield Pushes Past 5.5%
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 5.5% mark based on its quarterly dividend (annualized to $1.1125), with shares changing hands as low as $20.20 on the day. As of last close, SLF.PRD was trading at a 18.00% 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 0.1% on the day, while the common shares (TSX: SLF.TO) are up about 0.1%.
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