Citizens Financial Group's Preferred Stock, Series D Crosses Above 5.5% Yield Territory

By Preferred Stock Channel Staff, Monday, September 13, 2:56 PM ET

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In trading on Monday, shares of Citizens Financial Group Inc's 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:CFG.PRD) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.5875), with shares changing hands as low as $28.70 on the day. This compares to an average yield of 5.32% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, CFG.PRD was trading at a 15.72% premium to its liquidation preference amount, versus the average premium of 6.99% 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 CFG.PRD shares, versus CFG:

Performance Comparison Chart

Below is a dividend history chart for CFG.PRD, showing historical dividend payments on Citizens Financial Group Inc's 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D:

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In Monday trading, Citizens Financial Group Inc's 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:CFG.PRD) is currently off about 0.6% on the day, while the common shares (NYSE:CFG) are up about 2%.

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Citizens Financial Group's Preferred Stock, Series D Crosses Above 5.5% Yield Territory

Citizens Financial Group's Preferred Stock, Series D Crosses Above 5.5% Yield Territory | www.PreferredStockChannel.com