In trading on Thursday, shares of Synchrony Financial's 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (Symbol: SYF.PRA) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.4063), with shares changing hands as low as $25.32 on the day. This compares to an average yield of 5.35% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SYF.PRA was trading at a 3.48% premium to its liquidation preference amount, versus the average premium of 4.23% in the "Financial" category. 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 SYF.PRA shares, versus SYF:
Below is a dividend history chart for SYF.PRA, showing historical dividend payments on Synchrony Financial's 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A:
In Thursday trading, Synchrony Financial's 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (Symbol: SYF.PRA) is currently down about 1.3% on the day, while the common shares (Symbol: SYF) are down about 3.3%.
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