Capital One Financial's Preferred Stock, Series I Crosses Above 6% Yield Territory

In trading on Thursday, shares of Capital One Financial Corp's 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I (Symbol: COF.PRI) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.25), with shares changing hands as low as $20.78 on the day. This compares to an average yield of 6.41% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, COF.PRI was trading at a 15.92% discount to its liquidation preference amount, versus the average discount of 6.93% 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.

Below is a dividend history chart for COF.PRI, showing historical dividend payments on Capital One Financial Corp's 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I :

In Thursday trading, Capital One Financial Corp's 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I (Symbol: COF.PRI) is currently down about 0.6% on the day, while the common shares (Symbol: COF) are up about 1.3%.

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