Goodrich Petroleum's Series C Preferred Stock Yield Pushes Past 9%

In trading on Monday, shares of Goodrich Petroleum Corp.'s 10.00% Series C Cumulative Preferred Stock ( GDP.PRC) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.50), with shares changing hands as low as $27.70 on the day. This compares to an average yield of 8.20% in the "Oil & Gas Exploration & Production" preferred stock category, according to Preferred Stock Channel. As of last close, GDP.PRC was trading at a 11.52% premium to its liquidation preference amount, versus the average discount of 0.45% in the "Oil & Gas Exploration & Production" category.

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The chart below shows the one year performance of GDP.PRC shares, versus GDP:

Performance Comparison Chart

Below is a dividend history chart for GDP.PRC, showing historical dividend payments on Goodrich Petroleum Corp.'s 10.00% Series C Cumulative Preferred Stock :

GDP.PRC+Dividend+History+Chart

In Monday trading, Goodrich Petroleum Corp.'s 10.00% Series C Cumulative Preferred Stock ( GDP.PRC) is currently down about 0.5% on the day, while the common shares ( GDP) are down about 0.8%.

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