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| New York Community Bancorp's Series A Preferred Stock Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Wednesday, September 22, 2:05 PM ET
In trading on Wednesday, shares of New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (NYSE:NYCB.PRA) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.5936), with shares changing hands as low as $28.92 on the day. This compares to an average yield of 5.28% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, NYCB.PRA was trading at a 16.16% premium to its liquidation preference amount, versus the average premium of 7.01% 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 NYCB.PRA shares, versus NYCB:
Below is a dividend history chart for NYCB.PRA, showing historical dividend payments on New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock :
Free Report: Top 7%+ Dividends (paid monthly) In Wednesday trading, New York Community Bancorp Inc.'s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (NYSE:NYCB.PRA) is currently trading flat on the day, while the common shares (NYSE:NYCB) are up about 0.1%.
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