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| First Guaranty Bancshares' Series A Preferred Stock Yield Pushes Past 10.5%By Preferred Stock Channel Staff, Friday, November 17, 2:06 PM ET
In trading on Friday, shares of First Guaranty Bancshares, Inc.'s 6.75% Dep Shares Ser A Non-Cumul Preferred Stock (NASDAQ:FGBIP) were yielding above the 10.5% mark based on its quarterly dividend (annualized to $1.6875), with shares changing hands as low as $15.84 on the day. This compares to an average yield of 7.11% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FGBIP was trading at a 34.00% discount to its liquidation preference amount, versus the average discount of 14.48% 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: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Friday trading, First Guaranty Bancshares, Inc.'s 6.75% Dep Shares Ser A Non-Cumul Preferred Stock (NASDAQ:FGBIP) is currently trading flat on the day, while the common shares (NASDAQ:FGBI) are down about 1.2%.
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