Goodyear Tire & Rubber's Preferred Stock Shares Cross 4.5% Yield Mark

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:

Performance Comparison Chart

Below is a dividend history chart for GTPPP, showing historical dividend payments on Goodyear Tire & Rubber Co.'s 5.875% Mandatory Convertible Preferred Stock:

GTPPP+Dividend+History+Chart

In Monday trading, Goodyear Tire & Rubber Co.'s 5.875% Mandatory Convertible Preferred Stock ( GTPPP) is currently off about 0.3% on the day, while the common shares ( GT) are up about 0.1%.

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