
Bank of America's Preferred Stock, Series LL Shares Cross 6% Yield Mark

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Bank of America Corp's 5.000% Non-Cumulative Preferred Stock, Series LL (BAC.PRN) has crossed the 6% yield mark, trading at $20.74 with an annualized dividend of $1.25. This yield is below the average of 6.56% in the Financial category. BAC.PRN is at a 16.16% discount to its liquidation preference, compared to the average discount of 10.83%. The shares are non-cumulative, meaning missed payments do not need to be paid before resuming common dividends. On Monday, BAC.PRN was down 0.4%, while common shares (BAC) fell 3.1%.
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