Chimera Investment's Series C Preferred Stock Crosses Above 8% Yield TerritoryBy Preferred Stock Channel Staff, Monday, March 21, 2:09 PM ETIn trading on Monday, shares of Chimera Investment Corp's 7.75% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYSE:CIM.PRC) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.9375), with shares changing hands as low as $24.11 on the day. This compares to an average yield of 6.75% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, CIM.PRC was trading at a 2.80% discount to its liquidation preference amount, versus the average discount of 1.97% in the "Real Estate" category. The chart below shows the one year performance of CIM.PRC shares, versus CIM:
Below is a dividend history chart for CIM.PRC, showing historical dividend payments on Chimera Investment Corp's 7.75% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Monday trading, Chimera Investment Corp's 7.75% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYSE:CIM.PRC) is currently off about 0.8% on the day, while the common shares (NYSE:CIM) are down about 1.1%.
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