KeyCorp's Preferred Stock, Series A Shares Cross 6% Yield Mark

Feb 26 2014, 1:40pm CST | by

KeyCorp's Preferred Stock, Series A Shares Cross 6% Yield Mark
Photo Credit: Forbes Business

In trading on Wednesday, shares of KeyCorp’s 7.750% Non-Cumulative Perpetual Convertible Preferred Stock, Series A (NYSE: KEY.PRG) were yielding above the 6% mark based on its quarterly dividend (annualized to $7.75), with shares changing hands as low as $127.76 on the day. This compares to an average yield of 5.76% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, KEY.PRG was trading at a 29.60% premium to its liquidation preference amount, versus the average discount of 1.15% in the “Financial” category. It should be noted that the preferred shares are convertible, with a conversion ratio of 7.0922. 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.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »/>

The chart below shows the one year performance of KEY.PRG shares, versus KEY:

Below is a dividend history chart for KEY.PRG, showing historical dividend payments on KeyCorp’s 7.750% Non-Cumulative Perpetual Convertible Preferred Stock, Series A :


Special Offer: Find out what Frank Bifulco is holding in the Dividend OverDrive Portfolio with a free 30 day trial and a 20% off coupon from Forbes

In Wednesday trading, KeyCorp’s 7.750% Non-Cumulative Perpetual Convertible Preferred Stock, Series A (NYSE: KEY.PRG) is currently up about 0.1% on the day, while the common shares (NYSE: KEY) are up about 1.2%.

Source: Forbes Business

/>/>
 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Facebook M is a Hybrid Personal Digital Assistant inside Messenger
Facebook M is a Hybrid Personal Digital Assistant inside Messenger
M relies on artificial intelligence and human assistance.
 
 
iPhone Users get 30 Day Free Samsung Galaxy Trial
iPhone Users get 30 Day Free Samsung Galaxy Trial
Samsung tries everything to get new customers. Now iPhone user can test a new Galaxy smartphone 30 days for free.
 
 
Microsoft released 3rd Windows 10 Updates with KB 3081438
Microsoft released 3rd Windows 10 Updates with KB 3081438
Microsoft's release schedule for Windows 10 updates is fast paced. The company released three updates within 2 weeks.
 
 
New Skinny Jeans for Women Charges and Hides iPhone
New Skinny Jeans for Women Charges and Hides iPhone
Joe's Jeans offers a Jeans for female mobile warriors. Meet the Joe's Jeans #Hello.