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Ex-Dividend Reminder: Bank of Hawaii, Kinsale Capital Group and SunTrust Banks
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SunTrust Banks Perpetual Preferred Stock, Series A Ex-Dividend Reminder
Friday, February 23, 1:39 PM ET, by Market News Video Staff

On 2/27/18, SunTrust Banks Inc's Perpetual Preferred Stock, Series A (STI.PRA) will trade ex-dividend, for ...

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SunTrust Banks Perpetual Preferred Stock, Series A Ex-Dividend Reminder

By Preferred Stock Channel Staff, Friday, February 23, 1:39 PM ET
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On 2/27/18, SunTrust Banks Inc's Perpetual Preferred Stock, Series A (NYSE:STI.PRA) will trade ex-dividend, for its quarterly dividend of $0.25, payable on 3/15/18. As a percentage of STI.PRA's recent share price of $24.13, this dividend works out to approximately 1.04%, so look for shares of STI.PRA to trade 1.04% lower all else being equal when STI.PRA shares open for trading on 2/27/18. On an annualized basis, the current yield is approximately 4.14%, which compares to an average yield of 5.60% in the "Financial" preferred stock category, according to Preferred Stock Channel.

As of last close, STI.PRA was trading at a 3.48% discount to its liquidation preference amount, versus the average premium of 4.02% 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 STI.PRA shares, versus STI:

Performance Comparison Chart

Below is a dividend history chart for STI.PRA, showing historical dividends prior to the most recent $0.25 on SunTrust Banks Inc's Perpetual Preferred Stock, Series A:


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According to the ETF Finder at ETF Channel, SunTrust Banks Inc (NYSE:STI) makes up 5.46% of the iShares U.S. Regional Banks ETF (IAT) which is trading higher by about 0.5% on the day Friday.

See what other ETFs contain STI
See what other stocks are held by IAT

In Friday trading, SunTrust Banks Inc's Perpetual Preferred Stock, Series A (NYSE:STI.PRA) is currently trading flat on the day, while the common shares (NYSE:STI) are down about 0.1%.


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