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Omnicare's Preferred Securities Cross Above 3% Yield Territory

In trading on Wednesday, shares of Omnicare Inc.'s Trust Preferred Income Equity Redeemable Securities (OCR.PRA) were yielding above the 3% mark based on its quarterly dividend (annualized to $2.00), with shares changing hands as low as $66.00 on the day. This compares to an average yield of 3.76% in the "Healthcare" preferred stock category, according to Preferred Stock Channel. As of last close, OCR.PRA was trading at a 39.20% premium to its liquidation preference amount, versus the average premium of 23.74% in the "Healthcare" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.2248.

Click here to find out the 50 highest yielding preferreds »

The chart below shows the one year performance of OCR.PRA shares, versus OCR:

Performance Comparison Chart

Below is a dividend history chart for OCR.PRA, showing historical dividend payments on Omnicare Inc.'s Trust Preferred Income Equity Redeemable Securities:


In Wednesday trading, Omnicare Inc.'s Trust Preferred Income Equity Redeemable Securities (OCR.PRA) is currently down about 5.2% on the day, while the common shares (OCR) are off about 6%.

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