In trading on Wednesday, shares of Southern Company's 6 1/8% Series Class A Preferred Stock, Non-Cumulative (NYSE:GPE.PRA) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.5312), with shares changing hands as low as $25.51 on the day. This compares to an average yield of 4.48% in the "Utilities" preferred stock category, according to Preferred Stock Channel. As of last close, GPE.PRA was trading at a 3.28% premium to its liquidation preference amount, versus the average premium of 7.10% in the "Utilities" 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 GPE.PRA shares, versus SO:
Below is a dividend history chart for GPE.PRA, showing historical dividend payments on Southern Company's 6 1/8% Series Class A Preferred Stock, Non-Cumulative:
In Wednesday trading, Southern Company's 6 1/8% Series Class A Preferred Stock, Non-Cumulative (NYSE:GPE.PRA) is currently off about 0.2% on the day, while the common shares (NYSE:SO) are up about 0.3%.
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