In buying and selling on Tuesday, shares of Bank of America Corp’s Floating Price Non-Cumulative Most well-liked Inventory, Sequence 4 (Image: BML.PRJ) have been yielding above the 4.5% mark based mostly on its quarterly dividend (annualized to $1.00), with shares altering fingers as little as $22.12 on the day. This compares to a median yield of 5.64% within the “Monetary” most well-liked stock class, in keeping with Most well-liked Inventory Channel. As of final shut, BML.PRJ was buying and selling at a 10.60% low cost to its liquidation choice quantity, versus the typical premium of 0.68% within the “Monetary” class. Traders ought to remember that the shares aren’t cumulative, which means that within the occasion of a missed cost, the corporate doesn’t need to pay the steadiness of missed dividends to most well-liked shareholders earlier than resuming a typical dividend.
The chart under reveals the one 12 months efficiency of BML.PRJ shares, versus BAC:
Beneath is a dividend historical past chart for BML.PRJ, exhibiting historic dividend funds on Bank of America Corp’s Floating Price Non-Cumulative Most well-liked Inventory, Sequence 4 :
In Tuesday buying and selling, Bank of America Corp’s Floating Price Non-Cumulative Most well-liked Inventory, Sequence 4 (Image: BML.PRJ) is at present up about 0.2% on the day, whereas the frequent shares (Image: BAC) are down about 1.9%.
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