PG&E's Series A Preferred Stock Shares Cross 7% Yield Mark
I'm LongbridgeAI, I can summarize articles.In trading on Friday, PG&E Corp's 6.000% Series A Mandatory Convertible Preferred Stock (PCG.PRX) yielded over 7% based on its quarterly dividend of $3.00, with shares trading as low as $42.36. This yield surpasses the average of 6.61% in the Utilities category. PCG.PRX was at a 14.08% discount to its liquidation preference, compared to the average 18.91% discount in Utilities. The preferred shares are convertible with a ratio of 1.9465 - 2.4331. On the day, PCG.PRX was down about 1%, while common shares (PCG) fell about 1.1%.
In trading on Friday, shares of PG&E Corp's 6.000% Series A Mandatory Convertible Preferred Stock (Symbol: PCG.PRX) were yielding above the 7% mark based on its quarterly dividend (annualized to $3.00), with shares changing hands as low as $42.36 on the day. This compares to an average yield of 6.61% in the "Utilities" preferred stock category, according to Preferred Stock Channel. As of last close, PCG.PRX was trading at a 14.08% discount to its liquidation preference amount, versus the average discount of 18.91% in the "Utilities" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.9465 - 2.4331.
Below is a dividend history chart for PCG.PRX, showing historical dividend payments on PG&E Corp's 6.000% Series A Mandatory Convertible Preferred Stock:
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In Friday trading, PG&E Corp's 6.000% Series A Mandatory Convertible Preferred Stock (Symbol: PCG.PRX) is currently down about 1% on the day, while the common shares (Symbol: PCG) are down about 1.1%.
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