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%.

START SLIDESHOW:
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »

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%.
null

If you liked this article you might like

Biotech Movers: Shire Rises on Encouraging Angioedema Results

Biotech Movers: Shire Rises on Encouraging Angioedema Results

Moleculin Biotech gets good verbal Ok from FDA which should cut time to Phase 1/2 trial down

Moleculin Biotech gets good verbal Ok from FDA which should cut time to Phase 1/2 trial down

Cyclacel Stock Runs on Momentum Rocket Fueled by 'Dumb & Dumber' Optimism

Cyclacel Stock Runs on Momentum Rocket Fueled by 'Dumb & Dumber' Optimism

Here's Why Cyclacel Pharmaceuticals (CYCC) Stock Is Surging Today

Here's Why Cyclacel Pharmaceuticals (CYCC) Stock Is Surging Today

Cyclacel Pharmaceuticals (CYCC) Stock Pops, H.C. Wainwright Bullish

Cyclacel Pharmaceuticals (CYCC) Stock Pops, H.C. Wainwright Bullish