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%.

Click here to find out the 50 highest yielding preferreds »

Also see:

The Online Investor
GROM Options Chain
Funds Holding FJUN

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



Source link

Comments (0)
Add Comment