On 2/1/13, Citigroup Inc's 6.5% Non-Cumulative Convertible Preferred Stock, Series T (C.PRI) will trade ex-dividend, for its quarterly dividend of $0.8125, payable on 2/15/13. As a percentage of C.PRI's recent share price of $54.90, this dividend works out to approximately 1.48%, so look for shares of C.PRI to trade 1.48% lower — all else being equal — when C.PRI shares open for trading on 2/1/13. On an annualized basis, the current yield is approximately 5.92%, which compares to an average yield of 5.58% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, C.PRI was trading at a 9.80% premium to its liquidation preference amount, versus the average premium of 2.64% in the "Financial" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.4823503. 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 C.PRI shares, versus C:
Below is a dividend history chart for C.PRI, showing historical dividends prior to the most recent $0.8125 on Citigroup Inc's 6.5% Non-Cumulative Convertible Preferred Stock, Series T:
This Article's Word Cloud:ChannelCitigroupConvertibleCumulativeDefinitionDividendETFsFinancialFinderImportanceKBWBNYSEPortfolioPreferredSeriesStockTradedWednesdayaboutafterLeftLabelsapproximatelyaveragebackgroundcategorychartclosecommoncoupondividenddividendsescapefillColorfreelowermissedotherpreferredpremiumrecentsharesshouldthattradetradingversuswhatwhichwidthwithyield
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 Service. Video widget and dividend 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.