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| Customers Bancorp's Preferred Stock, Series F Crosses Above 11.5% Yield TerritoryBy Preferred Stock Channel Staff, Monday, June 12, 2:31 PM ET
In trading on Monday, shares of Customers Bancorp Inc's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBI.PRF) were yielding above the 11.5% mark based on its quarterly dividend (annualized to $2.4606), with shares changing hands as low as $21.15 on the day. This compares to an average yield of 9.86% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel. As of last close, CUBI.PRF was trading at a 13.40% discount to its liquidation preference amount, versus the average discount of 17.39% in the "Banking & Savings" 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 CUBI.PRF shares, versus CUBI:
Below is a dividend history chart for CUBI.PRF, showing historical dividend payments on Customers Bancorp Inc's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F:
Free Report: Top 8%+ Dividends (paid monthly) In Monday trading, Customers Bancorp Inc's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBI.PRF) is currently down about 0.7% on the day, while the common shares (NYSE:CUBI) are down about 0.2%.
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