Credit: Shutterstock photoIn trading on Monday, shares of JPMorgan Chase & Co's 5.45% Non-Cumulative Preferred Stock, Series P (Symbol: JPM.PRA) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3625), with shares changing hands as low as $24.77 on the day. This compares to an average yield of 5.52% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, JPM.PRA was trading at a 0.40% premium to its liquidation preference amount, versus the average premium of 3.74% 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 JPM.PRA shares, versus JPM:
Below is a dividend history chart for JPM.PRA, showing historical dividend payments on JPMorgan Chase & Co's 5.45% Non-Cumulative Preferred Stock, Series P:
In Monday trading, JPMorgan Chase & Co's 5.45% Non-Cumulative Preferred Stock, Series P (Symbol: JPM.PRA) is currently down about 0.8% on the day, while the common shares (Symbol: JPM) are up about 0.3%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
