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| Royal Bank of Canada's Preferred Shares, Series AP Yield Pushes Past 5%By Preferred Stock Channel Staff, Wednesday, October 27, 2:02 PM ET
In trading on Wednesday, shares of Royal Bank of Canada (Montreal, Quebec)'s Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AP (RY.PRP.CA) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.3125), with shares changing hands as low as $26.13 on the day. As of last close, RY.PRP.CA was trading at a 6.00% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible. 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 RY.PRP.CA shares, versus RY.CA:
Below is a dividend history chart for RY.PRP.CA, showing historical dividend payments on Royal Bank of Canada (Montreal, Quebec)'s Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AP:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Royal Bank of Canada (Montreal, Quebec)'s Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AP (RY.PRP.CA) is currently off about 1.2% on the day, while the common shares (TSE:RY.CA) are off about 0.9%.
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