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| M & T Bank's Preferred stock, Series A Shares Cross 6.5% Yield MarkBy Preferred Stock Channel Staff, Tuesday, May 9, 3:01 PM ET
In trading on Tuesday, shares of M & T Bank Corp's Fixed-to-floating rate non-cumulative perpetual preferred stock, Series A (NYSE:MTB.PRH) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $21.11 on the day. This compares to an average yield of 7.47% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MTB.PRH was trading at a 12.24% discount to its liquidation preference amount, versus the average discount of 15.96% 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 MTB.PRH shares, versus MTB:
Below is a dividend history chart for MTB.PRH, showing historical dividend payments on M & T Bank Corp's Fixed-to-floating rate non-cumulative perpetual preferred stock, Series A :
Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, M & T Bank Corp's Fixed-to-floating rate non-cumulative perpetual preferred stock, Series A (NYSE:MTB.PRH) is currently off about 2% on the day, while the common shares (NYSE:MTB) are down about 1.2%.
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