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State Street's Preferred Stock, Series G Crosses Above 5% Yield Territory

By Preferred Stock Channel Staff, Friday, May 29, 2:24 PM ET
Play Video: The Importance of Dividends


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In trading on Friday, shares of State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (NYSE:STT.PRG) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.3372), with shares changing hands as low as $26.66 on the day. This compares to an average yield of 5.59% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, STT.PRG was trading at a 7.80% premium to its liquidation preference amount, versus the average premium of 1.59% 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 STT.PRG shares, versus STT:

Performance Comparison Chart

Below is a dividend history chart for STT.PRG, showing historical dividend payments on State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G :


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In Friday trading, State Street Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G (NYSE:STT.PRG) is currently up about 0.5% on the day, while the common shares (NYSE:STT) are down about 2.1%.


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