Royal Bank of Scotland Group's Preference Shares, Series M Shares Cross 7% Yield Mark

In trading on Monday, shares of Royal Bank of Scotland Group Plc's Non-cumulative Dollar Preference Shares, Series M (NYSE: RBS.PRM) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.60), with shares changing hands as low as $22.74 on the day. This compares to an average yield of 5.12% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel. As of last close, RBS.PRM was trading at a 8.28% discount to its liquidation preference am...