Bank of America Preferred Stock Series SS Hits 6% Yield Threshold

Bank of America's 4.750% Dep Shares Non-Cumul Preferred Stock Series SS (BAC.PRS) is yielding over 6% due to its quarterly dividend of $1.1875. The stock is trading at a 20.28% discount to its liquidation preference amount. Preferred Stock Channel reports an average yield of 6.51% in the "Financial" category. The shares are non-cumulative, meaning missed payments do not have to be paid before resuming a common dividend.