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| US Bancorp's Series K Preferred Stock Shares Cross 5% Yield MarkBy Preferred Stock Channel Staff, Tuesday, August 10, 2:27 PM ET
In trading on Tuesday, shares of US Bancorp's Series K Non-Cumulative Perpetual Preferred Stock (NYSE:USB.PRP) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $27.37 on the day. This compares to an average yield of 5.31% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, USB.PRP was trading at a 10.96% premium to its liquidation preference amount, versus the average premium of 7.36% 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 USB.PRP shares, versus USB:
Below is a dividend history chart for USB.PRP, showing historical dividend payments on US Bancorp's Series K Non-Cumulative Perpetual Preferred Stock:
Free Report: Top 7%+ Dividends (paid monthly) In Tuesday trading, US Bancorp's Series K Non-Cumulative Perpetual Preferred Stock (NYSE:USB.PRP) is currently down about 0.9% on the day, while the common shares (NYSE:USB) are up about 1.1%.
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