In trading on Friday, shares of AXIS Capital Holdings Ltd’s 5.50% Series D Preferred Shares (Symbol: AXS.PRD) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $24.90 on the day. This compares to an average yield of 5.52% in the “Financial” preferred stock category, according to Preferred Stock Channel . As of last close, AXS.PRD was trading at a 3.00% premium to its liquidation preference amount, versus the average premium of 6.28% 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 AXS.PRD shares, versus AXS:
Below is a dividend history chart for AXS.PRD, showing historical dividend payments on AXIS Capital Holdings Ltd’s 5.50% Series D Preferred Shares:
In Friday trading, AXIS Capital Holdings Ltd’s 5.50% Series D Preferred Shares (Symbol: AXS.PRD) is currently down about 0.4% on the day, while the common shares (Symbol: AXS) are down about 0.5%.