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| Territorial Bancorp Fix/Float Series B Preferred Stock About To Put More Money In Your PocketBy Preferred Stock Channel Staff, Tuesday, August 1, 1:33 PM ET
On 8/3/23, Territorial Bancorp Inc's 9.00% Fix/Float Series B Non-Cumul Perp Pref Stock (NASDAQ:TECTP) will trade ex-dividend, for its quarterly dividend of $0.225, payable on 8/15/23. As a percentage of TECTP's recent share price of $10.19, this dividend works out to approximately 2.21%, so look for shares of TECTP to trade 2.21% lower — all else being equal — when TECTP shares open for trading on 8/3/23. On an annualized basis, the current yield is approximately 8.83%, which compares to an average yield of 6.80% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, TECTP was trading at a 1.90% premium to its liquidation preference amount. 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 TECTP shares, versus TBNK:
Below is a dividend history chart for TECTP, showing historical dividends prior to the most recent $0.225 on Territorial Bancorp Inc's 9.00% Fix/Float Series B Non-Cumul Perp Pref Stock: Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday trading, Territorial Bancorp Inc's 9.00% Fix/Float Series B Non-Cumul Perp Pref Stock (NASDAQ:TECTP) is currently up about 0.4% on the day, while the common shares (NASDAQ:TBNK) are off about 2.8%.
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