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| First Horizon's Preferred Stock, Series E Shares Cross 8% Yield MarkBy Preferred Stock Channel Staff, Thursday, May 25, 4:55 PM ET
In trading on Thursday, shares of First Horizon Corp's 6.50% Dep Shares Non-Cumulative Prfd Stock, Series E (NYSE:FHN.PRE) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.625), with shares changing hands as low as $20.30 on the day. This compares to an average yield of 7.09% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FHN.PRE was trading at a 16.76% discount to its liquidation preference amount, versus the average discount of 15.89% 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.PRE shares, versus FHN:
Below is a dividend history chart for FHN.PRE, showing historical dividend payments on First Horizon Corp's 6.50% Dep Shares Non-Cumulative Prfd Stock, Series E:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Thursday trading, First Horizon Corp's 6.50% Dep Shares Non-Cumulative Prfd Stock, Series E (NYSE:FHN.PRE) is currently off about 1% on the day, while the common shares (NYSE:FHN) are down about 2.2%.
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