Cash Dividend On The Way From Cyclacel Pharmaceuticals Convertible Exchangeable Preferred StockBy Preferred Stock Channel Staff, Tuesday, January 11, 2:33 PM ETOn 1/13/22, Cyclacel Pharmaceuticals Inc's 6% Convertible Exchangeable Preferred Stock (NASDAQ:CYCCP) will trade ex-dividend, for its quarterly dividend of $0.15, payable on 2/1/22. As a percentage of CYCCP's recent share price of $6.98, this dividend works out to approximately 2.15%, so look for shares of CYCCP to trade 2.15% lower — all else being equal — when CYCCP shares open for trading on 1/13/22. On an annualized basis, the current yield is approximately 8.61%, which compares to an average yield of 8.77% in the "Drugs & Pharmaceuticals" preferred stock category, according to Preferred Stock Channel. As of last close, CYCCP was trading at a 30.30% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 4.2553. The chart below shows the one year performance of CYCCP shares, versus CYCC:
Below is a dividend history chart for CYCCP, showing historical dividends prior to the most recent $0.15 on Cyclacel Pharmaceuticals Inc's 6% Convertible Exchangeable Preferred Stock: Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
In Tuesday trading, Cyclacel Pharmaceuticals Inc's 6% Convertible Exchangeable Preferred Stock (NASDAQ:CYCCP) is currently up about 0.1% on the day, while the common shares (NASDAQ:CYCC) are up about 1.2%.
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