In trading on Monday, shares of Goodyear Tire & Rubber Co.'s 5.875% Mandatory Convertible Preferred Stock (GTPPP) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $2.9375), with shares changing hands as low as $64.48 on the day. As of last close, GTPPP was trading at a 31.28% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 2.7454 to 3.4317.The chart below shows the one year performance of GTPPP shares, versus GT:
Goodyear Tire & Rubber's Preferred Stock Shares Cross 4.5% Yield Mark
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