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New York Community Bancorp’s Series A Preferred Stock Crosses Above 8.5% Yield Territory New York Community Bancorp’s Preferred Stock Reaches Milestone Yield

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New York Community Bancorp Inc.’s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (Symbol: NYCB.PRA) experienced a noteworthy milestone on Tuesday. The stock’s yield surpassed the 8.5% mark based on its quarterly dividend, which annualizes to $1.5936. With shares trading as low as $18.64 on the day, this achievement piques the interest of astute investors. Notably, the average yield of the β€œFinancial” preferred stock category stands at 6.75%, as reported by Preferred Stock Channel. Furthermore, NYCB.PRA is currently trading at a 23.84% discount to its liquidation preference amount, a substantial variance compared to the average discount of 10.08% in the β€œFinancial” category. It is prudent for investors to note that the shares are not cumulative, signifying that the company is not obligated to settle missed dividends to preferred shareholders before reallocating common dividends after a payment omission.

Performance Overview

A comparison chart of NYCB.PRA shares and NYCB presents the one-year performance visually.

Performance Comparison Chart

Dividend History

An illustrative dividend history chart for NYCB.PRA provides a depiction of the historical dividend payments for New York Community Bancorp Inc.’s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock.

NYCB.PRA+Dividend+History+Chart

In Tuesday’s trading, New York Community Bancorp Inc.’s 6.375% Share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock (Symbol: NYCB.PRA) faced a decline of approximately 1.9% for the day. Conversely, the common shares (Symbol: NYCB) experienced a decline of about 4.2%.

Also see:

Β• GACQ shares outstanding history
Β• ATGE Videos
Β• ANIP market cap history

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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