In trading on Tuesday, shares of Protective Life Corp.'s 6 1/8% Trust Originated Preferred Securities (PL.PRB) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.5312), with shares changing hands as low as $25.51 on the day. This compares to an average yield of 5.61% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, PL.PRB was trading at a 2.36% premium to its liquidation preference amount, versus the average premium of 0.18% in the "Financial" category.
Protective Life Corp.'s 6 1/8% Trust Originated Preferred Securities Shares Cross 6% Yield Mark
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