State Street's Preferred Stock, Series C Crosses Above 5% Yield Territory

In trading on Thursday, shares of State Street Corp.'s Non-Cumulative Perpetual Preferred Stock, Series C (NYSE: STT.PRC) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.3124), with shares changing hands as low as $26.12 on the day. This compares to an average yield of 5.49% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, STT.PRC was trading at a 8.56% premium to its liquidation preference amount, versus the a...