Cash Dividend On The Way From Cyclacel Pharmaceuticals Convertible Exchangeable Preferred Stock

On 1/13/22, Cyclacel Pharmaceuticals Inc’s 6% Convertible Exchangeable Preferred Stock (Symbol: CYCCP) will trade ex-dividend, for its quarterly dividend of $0.15, payable on 2/1/22. As a percentage of CYCCP’s recent share price of $6.98, this dividend works out to approximately 2.15%, so look for shares of CYCCP to trade 2.15% lower — all else being equal — when CYCCP shares open for trading on 1/13/22. On an annualized basis, the current yield is approximately 8.61%, which compares to an average yield of 8.77% in the “Drugs & Pharmaceuticals” preferred stock category, according to Preferred Stock Channel.
The chart below shows the one year performance of CYCCP shares, versus CYCC:

Below is a dividend history chart for CYCCP, showing historical dividends prior to the most recent $0.15 on Cyclacel Pharmaceuticals Inc’s 6% Convertible Exchangeable Preferred Stock:

In Tuesday trading, Cyclacel Pharmaceuticals Inc’s 6% Convertible Exchangeable Preferred Stock (Symbol: CYCCP) is currently up about 0.1% on the day, while the common shares (Symbol: CYCC) are up about 1.2%.

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