Bank of New York Mellon's Series C Preferred Stock Shares Cross 5% Yield Mark

In trading on Monday, shares of Bank of New York Mellon Corp's Series C Noncumulative Perpetual Preferred Stock (NYSE: BK.PRC) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.30), with shares changing hands as low as $25.60 on the day. This compares to an average yield of 5.79% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BK.PRC was trading at a 4.36% premium to its liquidation preference amount, versus the...