Peregrine Pharmaceuticals Series E Preferred Stock Crosses Above 11% Yield Territory

In trading on Wednesday, shares of Peregrine Pharmaceuticals Inc.'s 10.50% Series E Convertible Preferred Stock (PPHMP) were yielding above the 11% mark based on its quarterly dividend (annualized to $2.625), with shares changing hands as low as $23.19 on the day. As of last close, PPHMP was trading at a 4.48% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible.

The chart below shows the one year performance of PPHMP shares, versus PPHM:

Performance Comparison Chart

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Below is a dividend history chart for PPHMP, showing historical dividend payments on Peregrine Pharmaceuticals Inc.'s 10.50% Series E Convertible Preferred Stock:

PPHMP+Dividend+History+Chart

In Wednesday trading, Peregrine Pharmaceuticals Inc.'s 10.50% Series E Convertible Preferred Stock ( PPHMP) is currently down about 0.2% on the day, while the common shares ( PPHM) are up about 0.7%.

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