A Closer Look at KeyCorp’s Preferred Stock, Series G Yield

KeyCorp’s 5.625% Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G (Symbol: KEY.PRK) solidifies its allure in the trading realm by surpassing the 6.5% yield threshold on Monday. The quarterly dividend, amounting to $1.4063 on an annual basis, beckons investors with a resonant tune as the shares transacted handsomely at $21.56 throughout the day.

Significant Yield Comparisons within the Financial Sector

Within the enclave of “Financial” preferred stock offerings, KeyCorp stands strong with a yield that outshines the category average of 6.62%. Moreover, a deep dive reveals KEY.PRK trading at a discount of 13.20% relative to its liquidation preference, a noteworthy deviation from the sector’s average discount of 8.72%. It’s a compelling proposition for discerning investors seeking robust returns.

A Word of Caution for Investors

However, it’s vital to bear in mind that the alluring shares of KEY.PRK do not boast cumulative benefits. In the unfortunate scenario of a missed payment, the company retains the discretion to bypass settling the backlog of dividends owed to preferred shareholders before reverting to normal dividend disbursements.

The chart below vividly delineates the one-year journey of KEY.PRK shares, offering a comprehensive perspective on the stock’s performance:

Furthermore, the dividend history chart portraying the past dividend disbursements on KeyCorp’s esteemed 5.625% Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G is a testament to the stock’s consistency and reliability:

Intraday Market Movements

As Monday unfolds, KeyCorp’s Preferred Stock, Series G (KEY.PRK) witnesses a slight dip of around 0.3%, contrasting with the buoyant 0.7% surge in common shares (Symbol: KEY). The market dynamics add an element of intrigue to the narrative, underscoring the interplay of investor sentiment and company performance.

Delve Deeper:

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The musings and analyses reflected herein mirror the perspectives of the author and may not necessarily align with the stance of Nasdaq, Inc.