Cyclacel Pharmaceuticals's Preferred Stock Shares Cross 9% Yield Mark

In trading on Tuesday, shares of Cyclacel Pharmaceuticals, Inc's 6% Convertible Exchangeable Preferred Stock (CYCCP) were yielding above the 9% mark based on its quarterly dividend (annualized to $0.60), with shares changing hands as low as $6.51 on the day. This compares to an average yield of 10.90% in the "Biotechnology" preferred stock category, according to Preferred Stock Channel. As of last close, CYCCP was trading at a 30.90% discount to its liquidation preference amount, versus the average discount of 25.43% in the "Biotechnology" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 4.2553.

START SLIDESHOW:
Click here to find out the 50 highest yielding preferreds »

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 dividend payments on Cyclacel Pharmaceuticals, Inc's 6% Convertible Exchangeable Preferred Stock:

CYCCP+Dividend+History+Chart

In Tuesday trading, Cyclacel Pharmaceuticals, Inc's 6% Convertible Exchangeable Preferred Stock ( CYCCP) is currently down about 5.7% on the day, while the common shares ( CYCC) are down about 3.3%.

More from Stocks

Never Buy Stocks Based on Unusual Call Activity: Doug Kass Insider

Never Buy Stocks Based on Unusual Call Activity: Doug Kass Insider

Will Tesla Stock Tumble 33% to $195?

Will Tesla Stock Tumble 33% to $195?

Is Best Buy Sleeping With the Enemy With Amazon Partnership?

Is Best Buy Sleeping With the Enemy With Amazon Partnership?

Video: The S&P 500 Is Failing to Make New Highs

Video: The S&P 500 Is Failing to Make New Highs

Dow, S&P 500 and Nasdaq Finish Lower as Apple, P&G Slump

Dow, S&P 500 and Nasdaq Finish Lower as Apple, P&G Slump