In trading on Tuesday, shares of Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series M (RBS.PRM) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.60), with shares changing hands as low as $21.33 on the day. This compares to an average yield of 6.47% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel. As of last close, RBS.PRM was trading at a 14.52% discount to its liquidation preference amount, versus the average discount of 7.93% in the "Banking & Savings" 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 RBS.PRM shares, versus RBS:
Below is a dividend history chart for RBS.PRM, showing historical dividend payments on Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series M:
In Tuesday trading, Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series M (RBS.PRM) is currently up about 0.2% on the day, while the common shares (RBS) are up about 0.1%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV