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| First Horizon's Preferred Stock, Series F Shares Cross 6.5% Yield MarkBy Preferred Stock Channel Staff, Friday, December 22, 2:22 PM ET
In trading on Friday, shares of First Horizon Corp's 4.70% Dep Shares Non-Cumulative Preferred Stock, Series F (NYSE:FHN.PRF) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.175), with shares changing hands as low as $17.60 on the day. This compares to an average yield of 6.79% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FHN.PRF was trading at a 25.60% discount to its liquidation preference amount, versus the average discount of 11.50% 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 FHN.PRF shares, versus FHN:
Below is a dividend history chart for FHN.PRF, showing historical dividend payments on First Horizon Corp's 4.70% Dep Shares Non-Cumulative Preferred Stock, Series F:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Friday trading, First Horizon Corp's 4.70% Dep Shares Non-Cumulative Preferred Stock, Series F (NYSE:FHN.PRF) is currently off about 3.9% on the day, while the common shares (NYSE:FHN) are up about 0.8%.
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