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| First Guaranty Bancshares Preferred Stock Shares Cross 9% Yield MarkBy Preferred Stock Channel Staff, Tuesday, August 8, 2:05 PM ET
In trading on Tuesday, shares of First Guaranty Bancshares, Inc.'s 6.75% Dep Shares Ser A Non-Cumul Preferred Stock (NASDAQ:FGBIP) were yielding above the 9% mark based on its quarterly dividend (annualized to $1.6875), with shares changing hands as low as $18.62 on the day. This compares to an average yield of 6.81% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FGBIP was trading at a 21.76% discount to its liquidation preference amount, versus the average discount of 13.16% 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 FGBIP shares, versus FGBI:
Below is a dividend history chart for FGBIP, showing historical dividend payments on First Guaranty Bancshares, Inc.'s 6.75% Dep Shares Ser A Non-Cumul Preferred Stock:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Tuesday trading, First Guaranty Bancshares, Inc.'s 6.75% Dep Shares Ser A Non-Cumul Preferred Stock (NASDAQ:FGBIP) is currently down about 3.6% on the day, while the common shares (NASDAQ:FGBI) are up about 1.7%.
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