New York Community Bancorp's Series A Preferred Stock Shares Cross 5.5% Yield Mark

By Preferred Stock Channel Staff, Wednesday, September 22, 2:05 PM ET

Start slideshow:
10 Stocks Where Yields Got More Juicy »

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:

Performance Comparison Chart

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%.

This Article's Word Cloud: Arial Bancorp Below Channel Community Dividends Financial Fixed Floating Free Investors Juicy More NYCB NYSE Noncumulative Perpetual Preferred Rate Report Series Share Start Stock Stocks This Wednesday Where Yields York about above according afterLeftLabels amount annualized average category chart common dividend escape fillColor missed preferred premium shares that trading versus

New York Community Bancorp's Series A Preferred Stock Shares Cross 5.5% Yield Mark

New York Community Bancorp's Series A Preferred Stock Shares Cross 5.5% Yield Mark | www.PreferredStockChannel.com