New York Community Bancorp's Floating Preferreds Pay Out A 7.4% Yield

Pacifica Yield
12.61K Followers

Summary

  • New York Community Bancorp is currently paying out a 6.5% annualized forward dividend yield to common shareholders.
  • The bank saw fiscal 2023 first quarter net income grow by 14% sequentially to $159 million.
  • Its Series A preferreds are currently trading at a 13% discount to par value with a yield on cost of 7.4%.

Queensboro Bridge and Midtown Manhattan

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New York Community Bancorp (NYCB) has come out as an expected winner of the March 2023 banking panic. The common shares of the Long Island-based regional bank are up 21% year-to-date, outperforming its peers and also ahead

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