Citizens Financial preferred stock yields over 7%, beats sector average

The preferred stock of Citizens Financial Group Inc (NYSE:.PRE) has captured the attention of investors with its yield surpassing 7%, a figure that stands out in the financial sector. The Series E preferred stock’s trading lows reached $17.82 today, coupled with an annualized quarterly dividend set at $1.25. This yield is notably higher than the financial sector’s average of 7.12%.

Investors are taking note of CFG.PRE’s performance, especially as it trades at a significant discount of 27.24% compared to its liquidation preference amount, which is substantially more than the sector’s average discount of 14.67%. The non-cumulative nature of these preferred shares means that if dividend payments are missed, they will not be owed unless common dividends are paid again.

In today’s trading, CFG.PRE saw its market value decrease by nearly 2%, while the common shares of Citizens Financial Group (NYSE:CFG) also faced a decline, albeit less pronounced, edging close to a 1% drop. For those interested in delving deeper into the investment potential of CFG.PRE, various resources are available including a dividend history chart, historical stock price data, and information on institutional holders of WLDR, along with TZA Videos reference for further insights.

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