In trading on Monday, shares of Citigroup Inc's 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K (Symbol: C.PRK) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.7188), with shares changing hands as low as $26.14 on the day. This compares to an average yield of 5.22% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, C.PRK was trading at a 13.44% premium to its liquidation preference amount, versus the average premium of 7.03% 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.PRK shares, versus C:
Below is a dividend history chart for C.PRK, showing historical dividend payments on Citigroup Inc's 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K:
In Monday trading, Citigroup Inc's 6.875% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series K (Symbol: C.PRK) is currently up about 0.2% on the day, while the common shares (Symbol: C) are up about 0.4%.
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