Truist Financial’s Series R Preferred Stock Shares Cross 6% Yield Mark

In trading on Monday, shares of Truist Financial Corp’s 4.75% Dep Shares Series R Non-Cumulative Preferred Stock (Symbol: TFC.PRR) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $19.64 on the day. This compares to an average yield of 6.53% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, TFC.PRR was trading at a 20.56% discount to its liquidation preference amount, versus the average discount of 7.27% 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 TFC.PRR, showing historical dividend payments on Truist Financial Corp’s 4.75% Dep Shares Series R Non-Cumulative Preferred Stock:

In Monday trading, Truist Financial Corp’s 4.75% Dep Shares Series R Non-Cumulative Preferred Stock (Symbol: TFC.PRR) is currently down about 0.9% on the day, while the common shares (Symbol: TFC) are off about 0.9%.

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