Reminder: Cyclacel Pharmaceuticals' 6% Preferred Stock Goes Ex-Dividend Soon

On 4/17/13, Cyclacel Pharmaceuticals, Inc's 6% Convertible Exchangeable Preferred Stock ( CYCCP) will trade ex-dividend, for its quarterly dividend of $0.15, payable on 5/1/13. As a percentage of CYCCP's recent share price of $8.70, this dividend works out to approximately 1.72%, so look for shares of CYCCP to trade 1.72% lower — all else being equal — when CYCCP shares open for trading on 4/17/13. On an annualized basis, the current yield is approximately 6.90%.

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As of last close, CYCCP was trading at a 13.00% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 4.2553. The chart below shows the one year performance of CYCCP shares, versus CYCC:

Performance Comparison Chart

Below is a dividend history chart for CYCCP, showing historical dividends prior to the most recent $0.15 on Cyclacel Pharmaceuticals, Inc's 6% Convertible Exchangeable Preferred Stock:

CYCCP+Dividend+History+Chart

In Tuesday trading, Cyclacel Pharmaceuticals, Inc's 6% Convertible Exchangeable Preferred Stock ( CYCCP) is currently trading flat on the day, while the common shares ( CYCC) are up about 2%.
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