Cyclacel Pharmaceuticals Convertible Exchangeable Preferred Stock Ex-Dividend Reminder - 10/17/13

On 10/17/13, Cyclacel Pharmaceuticals, Inc's 6% Convertible Exchangeable Preferred Stock ( CYCCP) will trade ex-dividend, for its quarterly dividend of $0.15, payable on 11/1/13. As a percentage of CYCCP's recent share price of $7.76, this dividend works out to approximately 1.93%, so look for shares of CYCCP to trade 1.93% lower — all else being equal — when CYCCP shares open for trading on 10/17/13. On an annualized basis, the current yield is approximately 7.74%.

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As of last close, CYCCP was trading at a 22.40% 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
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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 down about 0.8%.
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