In trading on Thursday, shares of Lincoln National Corp.’s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D (Symbol: LNC.PRD) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $2.25), with shares changing hands as low as $26.37 on the day. This compares to an average yield of 6.59% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, LNC.PRD was trading at a 6.84% premium to its liquidation preference amount, versus the average discount of 9.80% 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.
The chart below shows the one year performance of LNC.PRD shares, versus LNC:
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 Thursday trading, Lincoln National Corp.’s 9.0% Dep Shares Non-cumulative Preferred Stock, Series D (Symbol: LNC.PRD) is currently off about 0.8% on the day, while the common shares (Symbol: LNC) are off about 8.1%.
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