PreferredStockChannel

Bank of America Corp's Preferred Stock, Series LL Yield Pushes Past 6%

By Preferred Stock Channel Staff, Tuesday, November 29, 5:06 PM ET

In trading on Tuesday, shares of Bank of America Corp's 5.000% Non-Cumulative Preferred Stock, Series LL (NYSE:BAC.PRN) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.25), with shares changing hands as low as $20.74 on the day. This compares to an average yield of 6.08% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BAC.PRN was trading at a 16.24% discount to its liquidation preference amount, versus the average discount of 9.68% 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 BAC.PRN shares, versus BAC:

Performance Comparison Chart

Below is a dividend history chart for BAC.PRN, showing historical dividend payments on Bank of America Corp's 5.000% Non-Cumulative Preferred Stock, Series LL :


Free Report: Top 8%+ Dividends (paid monthly)

In Tuesday trading, Bank of America Corp's 5.000% Non-Cumulative Preferred Stock, Series LL (NYSE:BAC.PRN) is currently down about 0.4% on the day, while the common shares (NYSE:BAC) are down about 0.1%.


This Article's Word Cloud:   America   Arial   Bank   Below   Channel   Corp   Cumulative   Dividends   Financial   Free   Investors   Juicy   More   NYSE   Preferred   Report   Series   Start   Stock   Stocks   This   Tuesday   Where   Yields   about   above   according   afterLeftLabels   amount   annualized   average   axisColor   background   balance   based   before   category   chart   common   discount   dividend   down   escape   fillColor   missed   preferred   shares   that   trading   versus

Bank of America Corp's Preferred Stock, Series LL Yield Pushes Past 6% | www.PreferredStockChannel.com

Copyright © 2010 - 2024, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.