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| Stifel Financial Corporation's 6.25% Non-Cumulative Preferred Stock, Series B Crosses Above 7% Yield TerritoryBy Preferred Stock Channel Staff, Tuesday, August 8, 2:05 PM ET
In trading on Tuesday, shares of Stifel Financial Corporation's 6.25% Non-Cumulative Preferred Stock, Series B (NYSE:SF.PRB) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.5625), with shares changing hands as low as $22.30 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, SF.PRB was trading at a 9.68% 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 SF.PRB shares, versus SF:
Below is a dividend history chart for SF.PRB, showing historical dividend payments on Stifel Financial Corporation's 6.25% Non-Cumulative Preferred Stock, Series B:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Tuesday trading, Stifel Financial Corporation's 6.25% Non-Cumulative Preferred Stock, Series B (NYSE:SF.PRB) is currently off about 0.6% on the day, while the common shares (NYSE:SF) are down about 1%.
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