WaFd Inc’s Preferred Stock Sees Spike in Yield Amid Market Fluctuations

Current Performance and Pricing Insights

On Tuesday, shares of WaFd Inc’s 4.875% Non-Cumulative Preferred Stock, Series A (Symbol: WAFDP) were yielding above 7% based on a quarterly dividend (annualized to $1.2188), with prices dipping as low as $17.37 during the trading day. This performance stands in contrast to an average yield of 6.43% for preferred stocks in the “Financial” category, as reported by Preferred Stock Channel.

WAFDP was last priced at a significant discount of 28.80% relative to its liquidation preference amount. For context, the average discount among peers in the “Financial” sector is 6.15%. Investors should note that the shares are non-cumulative. This means if a dividend payment is missed, WaFd Inc is not obligated to pay the missed dividends to preferred shareholders before any distributions to common stockholders resume.

Dividend History Overview

The dividend history for WAFDP illustrates the company’s historical dividend payments as follows:

Market Movements Today

During the trading session on Tuesday, WaFd Inc’s 4.875% Non-Cumulative Preferred Stock (WAFDP) is experiencing a decrease of approximately 2.4%. Additionally, the common shares (Symbol: WAFD) have also seen a downturn of about 1.2%.

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