First Horizon’s Preferred Stock, Series F Shares Cross 6.5% Yield Mark


In trading on Friday, shares of First Horizon Corp’s 4.70% Dep Shares Non-Cumulative Preferred Stock, Series F (Symbol: FHN.PRF) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.175), with shares changing hands as low as $18.07 on the day. This compares to an average yield of 6.94% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, FHN.PRF was trading at a 26.96% discount to its liquidation preference amount, versus the average discount of 9.16% 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.

The chart below shows the one year performance of FHN.PRF shares, versus FHN:

Performance Comparison Chart

Below is a dividend history chart for FHN.PRF, showing historical dividend payments on First Horizon Corp’s 4.70% Dep Shares Non-Cumulative Preferred Stock, Series F:

FHN.PRF+Dividend+History+Chart


Free Report: Top 8%+ Dividends (paid monthly)

In Friday trading, First Horizon Corp’s 4.70% Dep Shares Non-Cumulative Preferred Stock, Series F (Symbol: FHN.PRF) is currently off about 1% on the day, while the common shares (Symbol: FHN) are up about 1.2%.

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



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