In trading on Monday, shares of Goldman Sachs Group Inc's 5.50% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series J (Symbol: GS.PRJ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $24.85 on the day. This compares to an average yield of 5.60% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, GS.PRJ was trading at a 0.80% premium to its liquidation preference amount, versus the average discount of 2.77% 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 GS.PRJ shares, versus GS:
Below is a dividend history chart for GS.PRJ, showing historical dividend payments on Goldman Sachs Group Inc's 5.50% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series J:
In Monday trading, Goldman Sachs Group Inc's 5.50% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series J (Symbol: GS.PRJ) is currently off about 1.1% on the day, while the common shares (Symbol: GS) are down about 0.9%.
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