In trading on Friday, shares of JPMorgan Chase & Co's 6.125% Non-Cumulative Preferred Stock, Series Y (Symbol: JPM.PRF) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.5313), with shares changing hands as low as $25.50 on the day. This compares to an average yield of 5.05% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, JPM.PRF was trading at a 2.28% premium to its liquidation preference amount, versus the average premium of 5.81% 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.
Below is a dividend history chart for JPM.PRF, showing historical dividend payments on JPMorgan Chase & Co's 6.125% Non-Cumulative Preferred Stock, Series Y:
In Friday trading, JPMorgan Chase & Co's 6.125% Non-Cumulative Preferred Stock, Series Y (Symbol: JPM.PRF) is currently trading flat on the day, while the common shares (Symbol: JPM) are up about 0.5%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
