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In trading on Thursday, shares of Bank of America Corp's 5.375% Non-Cumulative Preferred Stock, Series KK (Symbol: BAC.PRM) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.3438), with shares changing hands as low as $22.34 on the day. This compares to an average yield of 6.59% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BAC.PRM was trading at a 9.24% discount to its liquidation preference amount, versus the average discount of 9.80% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

Below is a dividend history chart for BAC.PRM, showing historical dividend payments on Bank of America Corp's 5.375% Non-Cumulative Preferred Stock, Series KK :

In Thursday trading, Bank of America Corp's 5.375% Non-Cumulative Preferred Stock, Series KK (Symbol: BAC.PRM) is currently down about 0.8% on the day, while the common shares (Symbol: BAC) are off about 8.9%.

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