PG&E's Series A Preferred Stock Shares Cross 7% Yield Mark
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In trading on Friday, PG&E Corp's 6.000% Series A Mandatory Convertible Preferred Stock (PCG.PRX) yielded over 7% based on its quarterly dividend of $3.00, with shares trading as low as $42.36. This yield surpasses the average of 6.61% in the Utilities category. PCG.PRX was at a 14.08% discount to its liquidation preference, compared to the average 18.91% discount in Utilities. The preferred shares are convertible with a ratio of 1.9465 - 2.4331. On the day, PCG.PRX was down about 1%, while common shares (PCG) fell about 1.1%.
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