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 Featured MNV Articles:
| Bank of America's Preferred Stock, Series 4 Crosses Above 4% Yield TerritoryBy Preferred Stock Channel Staff, Wednesday, July 21, 2:08 PM ET
In trading on Wednesday, shares of Bank of America Corp's Floating Rate Non-Cumulative Preferred Stock, Series 4 (NYSE:BML.PRJ) were yielding above the 4% mark based on its quarterly dividend (annualized to $1.0222), with shares changing hands as low as $25.50 on the day. This compares to an average yield of 5.34% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BML.PRJ was trading at a 2.40% premium to its liquidation preference amount, versus the average premium of 6.92% 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 BML.PRJ shares, versus BAC:
Below is a dividend history chart for BML.PRJ, showing historical dividend payments on Bank of America Corp's Floating Rate Non-Cumulative Preferred Stock, Series 4 :
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Bank of America Corp's Floating Rate Non-Cumulative Preferred Stock, Series 4 (NYSE:BML.PRJ) is currently trading flat on the day, while the common shares (NYSE:BAC) are up about 2.6%.
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