Find a 6% Yield in JPMorgan Chase’s Preferred Stock

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In trading on Friday, shares of JPMorgan Chase & Co.‘s (NYSE:JPM) 6.30% Non-Cumulative Preferred Stock, Series W were yielding above the 6% mark based on its quarterly dividend (annualized to $1.575), with shares changing hands as low as $26.24 on the day.

This compares to an average yield of 5.73% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, JPM preferred stock was trading at a 5.16% premium to its liquidation preference amount, versus the average premium of 3.26% in the “Financial” category.

Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, JPMorgan Chase does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one-year performance of JPM preferred stock versus JPM common stock:

Performance Comparison Chart

Below is a dividend history chart for JPM preferred stock showing historical dividend payments on JPMorgan Chase’s 6.30% Non-Cumulative Preferred Stock, Series W:

JPM.PRE+Dividend+History+Chart

In Friday trading, JPMorgan Chase’s 6.30% Non-Cumulative Preferred Stock, Series W is currently off about 0.1% on the day, while the JPM common shares are up about 0.1%.

START SLIDESHOW: Click here to find out the 50 highest yielding preferreds.


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