RenaissanceRe Holdings' SERIES F PREFERENCE Shares Cross 6.5% Yield MarkBy Preferred Stock Channel Staff, Tuesday, August 22, 2:08 PM ETIn trading on Tuesday, shares of RenaissanceRe Holdings Ltd.'s 5.750% SERIES F PREFERENCE SHARES (NYSE:RNR.PRF) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.4375), with shares changing hands as low as $22.01 on the day. This compares to an average yield of 7.09% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, RNR.PRF was trading at a 11.28% discount to its liquidation preference amount, versus the average discount of 15.44% 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 RNR.PRF shares, versus RNR:
Below is a dividend history chart for RNR.PRF, showing historical dividend payments on RenaissanceRe Holdings Ltd.'s 5.750% SERIES F PREFERENCE SHARES:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, RenaissanceRe Holdings Ltd.'s 5.750% SERIES F PREFERENCE SHARES (NYSE:RNR.PRF) is currently trading flat on the day, while the common shares (NYSE:RNR) are down about 0.5%.
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