In trading on Thursday, shares of Goldman Sachs Group Inc's Floating Rate Non-Cumulative Preferred Stock, Series C (Symbol: GS.PRC) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.2462), with shares changing hands as low as $19.13 on the day. This compares to an average yield of 6.61% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, GS.PRC was trading at a 22.92% discount to its liquidation preference amount, versus the average discount of 12.67% 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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The chart below shows the one year performance of GS.PRC shares, versus GS:
Below is a dividend history chart for GS.PRC, showing historical dividend payments on Goldman Sachs Group Inc's Floating Rate Non-Cumulative Preferred Stock, Series C :
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In Thursday trading, Goldman Sachs Group Inc's Floating Rate Non-Cumulative Preferred Stock, Series C (Symbol: GS.PRC) is currently up about 0.9% on the day, while the common shares (Symbol: GS) are up about 0.1%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
