|
Featured MNV Articles:
| Cash Dividend On The Way From Medallion Financial Corp's Perpetual Preferred StockBy Preferred Stock Channel Staff, Tuesday, December 12, 1:35 PM ET
On 12/14/23, Medallion Financial Corp's 8.0% Fix/Float Non-Cumulative Perpetual Preferred Stock, Ser F (NASDAQ:MBNKP) will trade ex-dividend, for its quarterly dividend of $0.50, payable on 1/2/24. As a percentage of MBNKP's recent share price of $23.55, this dividend works out to approximately 2.12%, so look for shares of MBNKP to trade 2.12% lower — all else being equal — when MBNKP shares open for trading on 12/14/23. On an annualized basis, the current yield is approximately 8.46%, which compares to an average yield of 6.97% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MBNKP was trading at a 5.48% discount 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 MBNKP shares, versus MFIN:
Below is a dividend history chart for MBNKP, showing historical dividends prior to the most recent $0.50 on Medallion Financial Corp's 8.0% Fix/Float Non-Cumulative Perpetual Preferred Stock, Ser F: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Tuesday trading, Medallion Financial Corp's 8.0% Fix/Float Non-Cumulative Perpetual Preferred Stock, Ser F (NASDAQ:MBNKP) is currently down about 0.3% on the day, while the common shares (NASDAQ:MFIN) are off about 0.2%.
This Article's Word Cloud:
Arial
Below
Channel
Corp
Cumulative
Days
Dividend
Dollars
Financial
Float
Going
Investors
Join
MBNKP
MFIN
Medallion
Offer
Perpetual
Preferred
Seven
Special
Start
Stock
Stocks
Tuesday
ValueForum
about
according
afterLeftLabels
amount
annualized
approximately
average
axisColor
background
chart
common
dividend
dividends
escape
fillColor
mdash
missed
preferred
recent
shares
that
trade
trading
yield
|