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.

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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%.