OFG Bancorp's Series D Preferred Stock Shares Cross 8% Yield Mark

In trading on Monday, shares of OFG Bancorp's Series D Non-Cumulative Perpetual Preferred Stock (OFG.PRD) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $21.45 on the day. This compares to an average yield of 5.80% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, OFG.PRD was trading at a 10.44% discount to its liquidation preference amount, versus the average premium of 0.76% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

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The chart below shows the one year performance of OFG.PRD shares, versus OFG:

Performance Comparison Chart

Below is a dividend history chart for OFG.PRD, showing historical dividend payments on OFG Bancorp's Series D Non-Cumulative Perpetual Preferred Stock :

OFG.PRD+Dividend+History+Chart

In Monday trading, OFG Bancorp's Series D Non-Cumulative Perpetual Preferred Stock ( OFG.PRD) is currently down about 2.2% on the day, while the common shares ( OFG) are down about 13.7%.

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