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

In trading on Wednesday, 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 $25.93 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, BK.PRC was trading at a 4.92% premium to its liquidation preference amount, versus ...