In trading on Thursday, shares of Citigroup Inc's 7.125% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series J (Symbol: C.PRJ) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $27.40 on the day. This compares to an average yield of 5.29% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, C.PRJ was trading at a 10.20% premium to its liquidation preference amount, versus the average premium of 5.72% 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 C.PRJ shares, versus C:
Below is a dividend history chart for C.PRJ, showing historical dividend payments on Citigroup Inc's 7.125% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series J:
In Thursday trading, Citigroup Inc's 7.125% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series J (Symbol: C.PRJ) is currently off about 0.3% on the day, while the common shares (Symbol: C) are trading flat.
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