TransCanada's Preferred Series 1 Shares Cross 5.5% Yield Mark

In trading on Wednesday, shares of TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 1 (Toronto: TRP-PRA) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $0.8165), with shares changing hands as low as $14.67 on the day. As of last close, TRP.PRA was trading at a 40.00% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible.