Capital One Financial’s Series L Preferred Stock Sees Yield Surpass 5.5%

Published On: October 16, 2024 3:33 pm

Capital One’s Preferred Shares See High Yield Amid Market Fluctuations

Investors Eye Capital One’s 4.375% Series L Preferred Stock

In trading on Wednesday, shares of Capital One Financial Corp’s 4.375% Dep Shares Non-Cumul Perp Pfd Stock Series L (Symbol: COF.PRL) yielded above the 5.5% mark based on its quarterly dividend of $1.0938 annualized. On the day’s low, shares traded at $19.81. This yield stands in contrast to an average of 6.30% in the broader “Financial” preferred stock sector, according to Preferred Stock Channel.

As the market closed, COF.PRL was trading at a significant 19.96% discount to its liquidation preference amount. Comparatively, preferred stocks in the “Financial” category typically show an average discount of 4.43%. Notably, COF.PRL shares are non-cumulative; hence, if the company misses a dividend payment, it is under no obligation to fulfill that missed payment before it can begin common dividends again.

The chart below illustrates the one-year performance of COF.PRL shares compared to common shares of Capital One:

Performance Comparison Chart

Displayed here is the dividend history for COF.PRL, highlighting the historical payments made on Capital One Financial Corp’s 4.375% Dep Shares Non-Cumul Perp Pfd Stock Series L:

COF.PRL Dividend History Chart

Free Report: Top 8%+ Dividends (paid monthly)

In Wednesday’s trading, Capital One Financial Corp’s 4.375% Dep Shares Non-Cumul Perp Pfd Stock Series L (Symbol: COF.PRL) had dipped 1%, while the common shares (Symbol: COF) saw a rise of about 1%.