Bank of America' Preferred Stock Series SS Yield Pushes Past 5.5%

By Preferred Stock Channel Staff, Friday, March 1, 3:35 PM ET

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In trading on Friday, shares of Bank of America Corp's 4.750% Dep Shares Non-Cumul Preferred Stock Series SS (NYSE:BAC.PRS) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $21.57 on the day. This compares to an average yield of 6.68% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BAC.PRS was trading at a 13.00% discount to its liquidation preference amount, versus the average discount of 9.21% 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.PRS shares, versus BAC:

Performance Comparison Chart

Below is a dividend history chart for BAC.PRS, showing historical dividend payments on Bank of America Corp's 4.750% Dep Shares Non-Cumul Preferred Stock Series SS:

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In Friday trading, Bank of America Corp's 4.750% Dep Shares Non-Cumul Preferred Stock Series SS (NYSE:BAC.PRS) is currently off about 0.6% on the day, while the common shares (NYSE:BAC) are down about 0.5%.

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Bank of America' Preferred Stock Series SS Yield Pushes Past 5.5%

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