Capital One Financial's Preferred Stock Series L Crosses Above 6.5% Yield Territory

Yield on Capital One Financial's 4.375% Series L perpetual preferred (COF.PRL) topped 6.5% based on a quarterly dividend annualized to $1.0938. Shares traded as low as $16.78 intraday, reflecting a market price well below par and resulting in the elevated yield.

Analysis

Yield on Capital One Financial's 4.375% Series L perpetual preferred (COF.PRL) topped 6.5% based on a quarterly dividend annualized to $1.0938. Shares traded as low as $16.78 intraday, reflecting a market price well below par and resulting in the elevated yield.