In trading on Thursday, shares of The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D (Symbol: SCHW.PRD) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.488), with shares changing hands as low as $24.79 on the day. This compares to an average yield of 6.58% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SCHW.PRD was trading at a 0.32% discount to its liquidation preference amount, versus the average discount of 8.23% 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.
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Below is a dividend history chart for SCHW.PRD, showing historical dividend payments on The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D:
In Thursday trading, The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D (Symbol: SCHW.PRD) is currently down about 0.1% on the day, while the common shares (Symbol: SCHW) are up about 0.5%.
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