In trading on Tuesday, shares of Lincoln National Corp.’s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D (Symbol: LNC.PRD) were yielding above the 8% mark based on its quarterly dividend (annualized to $2.25), with shares changing hands as low as $28.03 on the day. This compares to an average yield of 6.71% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, LNC.PRD was trading at a 14.68% premium to its liquidation preference amount, versus the average discount of 10.28% in the “Financial” category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
Below is a dividend history chart for LNC.PRD, showing historical dividend payments on Lincoln National Corp.’s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D:
In Tuesday trading, Lincoln National Corp.’s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D (Symbol: LNC.PRD) is currently up about 0.1% on the day, while the common shares (Symbol: LNC) are up about 0.2%.
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