In trading on Thursday, shares of Truist Financial Corp’s Series I Non-Cumulative Perpetual Preferred Stock (Symbol: TFC.PRI) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.3018), with shares changing hands as low as $21.67 on the day. This compares to an average yield of 6.59% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, TFC.PRI was trading at a 11.56% discount to its liquidation preference amount, versus the average discount of 9.80% 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.PRI, showing historical dividend payments on Truist Financial Corp’s Series I Non-Cumulative Perpetual Preferred Stock:
Free Report: Top 8%+ Dividends (paid monthly)
In Thursday trading, Truist Financial Corp’s Series I Non-Cumulative Perpetual Preferred Stock (Symbol: TFC.PRI) is currently down about 0.8% on the day, while the common shares (Symbol: TFC) are off about 8.2%.
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