In trading on Thursday, shares of Goldman Sachs Group Inc’s Floating Rate Non-Cumulative Preferred Stock, Series C (Symbol: GS.PRC), were yielding above 6.5% based on its quarterly dividend of $1.2462, with shares trading as low as $19.13. This yield compares to an average of 6.61% within the Financial preferred stock category, according to Preferred Stock Channel.
As of the last close, GS.PRC was at a 22.92% discount to its liquidation preference amount, significantly higher than the average discount of 12.67% in the Financial category. Additionally, GS.PRC shares saw an increase of about 0.9% on the day, while common shares (Symbol: GS) were up about 0.1%. The non-cumulative nature of these preferred shares means the company is not obligated to compensate for any missed dividend payments.
