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Sun Life Financial's Preferred Shares Series 3 Crosses Above 4.5% Yield TerritoryBy Preferred Stock Channel Staff, Tuesday, May 11, 2:17 PM ETIn trading on Tuesday, shares of Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 3 (TSE:SLF.PRC.CA) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $1.1125), with shares changing hands as low as $24.70 on the day. As of last close, SLF.PRC.CA was trading at a 0.84% discount to its liquidation preference amount. 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 SLF.PRC.CA shares, versus SLF.CA:
Below is a dividend history chart for SLF.PRC.CA, showing historical dividend payments on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 3:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 3 (TSE:SLF.PRC.CA) is currently down about 0.4% on the day, while the common shares (TSE:SLF.CA) are down about 1.1%.
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