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Teekay Offshore Partners' Series A Preferred Shares Cross 8.5% Yield Mark
2021-07-13 00:03
Teekay Offshore Partners' Series A Preferred Shares Cross 8.5% Yield Mark
By Preferred Stock Channel Staff, Tuesday, December 3, 2:16 PM ET
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In trading on Tuesday, shares of Teekay Offshore Partners LP's 7.25% Series A Cumulative Redeemable Preferred Units (NYSE: TOO.PRA) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $1.8124), with shares changing hands as low as $20.81 on the day. This compares to an average yield of 9.18% in the "Oil & Gas Equipment & Services" preferred stock category, according to Preferred Stock Channel. As of last close, TOO.PRA was trading at a 13.16% discount to its liquidation preference amount, versus the average discount of 5.87% in the "Oil & Gas Equipment & Services" category.
The chart below shows the one year performance of TOO.PRA shares, versus TOO:
Below is a dividend history chart for TOO.PRA, showing historical dividend payments on Teekay Offshore Partners LP's 7.25% Series A Cumulative Redeemable Preferred Units :
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In Tuesday trading, Teekay Offshore Partners LP's 7.25% Series A Cumulative Redeemable Preferred Units (NYSE:TOO.PRA) is currently off about 3.5% on the day, while the common shares (NYSE:TOO) are up about 0.3%.
