Featured MNV Articles:
|Noteworthy Wednesday Option Activity: LOCO, DERM, C
Wednesday, February 21, 3:18 PM ET, by Market News Video Staff
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy ...
Notable ETF Inflow Detected - MTUM, BA, ABBV, C
Thursday, February 22, 11:11 AM ET, by Market News Video Staff
Symbols mentioned in this story: MTUM, BA, ABBV, C Exchange traded funds (ETFs) trade just ...
See How Citigroup Ranks Among Analysts' Top Picks With Strong Buyback Activity
Friday, February 23, 2:01 PM ET, by Market News Video Staff
A study of analyst recommendations at the major brokerages shows that Citigroup Inc (C) is ...
Noteworthy Thursday Option Activity: GPS, WMT, C
Thursday, March 1, 2:04 PM ET, by Market News Video Staff
Looking at options trading activity among components of the S&P 500 index, there is noteworthy ...
SPYV, C, WMT, PG: ETF Inflow Alert
Friday, March 2, 10:46 AM ET, by Market News Video Staff
Symbols mentioned in this story: SPYV, C, WMT, PG Exchange traded funds (ETFs) trade just ...
Citigroup Inc's 6.5% Non-Cumulative Convertible Preferred Stock, Series T About To Put More Money In Your Pocket
By Preferred Stock Channel Staff, Wednesday, January 30, 2:49 PM ET
On 2/1/13, Citigroup Inc's 6.5% Non-Cumulative Convertible Preferred Stock, Series T (NYSE: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:
Special Offer: Find out what Frank Bifulco is holding in the Dividend OverDrive Portfolio with a free 30 day trial and a 20% off coupon from Forbes
According to the ETF Finder at ETF Channel, Citigroup Inc (NYSE:C) makes up 8.90% of the KBW Bank Portfolio ETF (KBWB) which is trading higher by about 0.2% on the day Wednesday.
See what other ETFs contain C »
See what other stocks are held by KBWB »
In Wednesday trading, Citigroup Inc's 6.5% Non-Cumulative Convertible Preferred Stock, Series T (NYSE:C.PRI) is currently trading flat on the day, while the common shares (NYSE:C) are down about 0.2%.
This Article's Word Cloud: