In trading on Wednesday, JPMorgan Chase & Co’s 4.75% Dep Shares Non-Cumulative Preferred Stock Series GG (Symbol: JPM.PRJ) was yielding above 6.5%, with shares trading as low as $18.23. The stock’s annualized dividend is $1.1875, while the average yield in the Financial preferred stock category is 6.88%. As of the last close, JPM.PRJ was trading at a 26.48% discount to its liquidation preference, compared to the category average of 14.20%.
It is important to note that these shares are non-cumulative, meaning that missed payments do not need to be repaid before resuming common dividends. On Wednesday, JPM.PRJ shares were down approximately 0.8%, while common shares of JPM (Symbol: JPM) increased by about 0.4%.
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