Capital One Financial's Preferred Stock Series L Shares Cross 6.5% Yield MarkBy Preferred Stock Channel Staff, Monday, April 15, 2:52 PM ETIn trading on Monday, shares of Capital One Financial Corp's 4.375% Dep Shares Non-Cumul Perp Pfd Stock Series L (NYSE:COF.PRL) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.0938), with shares changing hands as low as $16.64 on the day. This compares to an average yield of 6.77% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, COF.PRL was trading at a 31.24% discount to its liquidation preference amount, versus the average discount of 11.00% 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 COF.PRL shares, versus COF:
Below is a dividend history chart for COF.PRL, showing historical dividend payments on Capital One Financial Corp's 4.375% Dep Shares Non-Cumul Perp Pfd Stock Series L:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Monday trading, Capital One Financial Corp's 4.375% Dep Shares Non-Cumul Perp Pfd Stock Series L (NYSE:COF.PRL) is currently down about 2.8% on the day, while the common shares (NYSE:COF) are down about 0.4%.
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