Attractive Returns on Sun Life Financial’s Class A Non-Cumulative Preferred Shares Series 3
On a recent trading day, the yield on Sun Life Financial Inc’s Class A Non-Cumulative Preferred Shares Series 3 (TSX: SLF-PRC.TO) surpassed the 6% milestone, fueled by a quarterly dividend translating to an annualized $1.1125. The shares were spotted changing hands for as low as $17.80 during the trading session. Notably, SLF.PRC was trading at a tantalizing 24.40% discount to its liquidation preference amount. It’s worth mentioning that these shares are non-cumulative, indicating that if a payment is missed, the company isn’t obliged to cover missed dividends before distributing common dividends.
Snapshot of Performance and Dividend History
The one-year performance comparison of SLF.PRC shares alongside SLF reveals intriguing insights. On the historical front, a dividend history chart for Sun Life Financial Inc’s Class A Non-Cumulative Preferred Shares Series 3 paints a vivid picture of past dividend payments.
Market Movement and Prospect
In the latest trading session, Sun Life Financial Inc’s Class A Non-Cumulative Preferred Shares Series 3 (TSX: SLF-PRC.TO) experienced a slight decline of approximately 0.9%. Meanwhile, the common shares (TSX: SLF.TO) remained steady. This variance hints at an evolving landscape, with potential for investors to explore.
Click here to find out which 9 other Canadian dividend stocks just recently went ”on sale” and crossed into new yield territory »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
