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In trading on Thursday, shares of Bank of America Corp. This compares to an average yield of 5. As of last close, BAC.

PRL was trading at a It should be noted that the preferred shares are convertible , with a conversion ratio of 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Breaking Down My Latest Stock Buying Decision: Bank of America Preferred Stock - Series L - The Money Habit

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This article appears in: Investing , Investing Ideas. More from BNK Invest. Related Investing Ideas Articles. BNK Invest Market News, Investing.

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Will Bank of America Become a Warren Buffett Stock in ? -- The Motley Fool

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