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| Regions Financial's Preferred Stock, Series B Shares Cross 6.5% Yield MarkBy Preferred Stock Channel Staff, Monday, January 29, 2:06 PM ET
In trading on Monday, shares of Regions Financial Corp's 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (NYSE:RF.PRB) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.5938), with shares changing hands as low as $24.50 on the day. This compares to an average yield of 6.61% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, RF.PRB was trading at a 1.76% discount to its liquidation preference amount, versus the average discount of 9.14% 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 RF.PRB shares, versus RF:
Below is a dividend history chart for RF.PRB, showing historical dividend payments on Regions Financial Corp's 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B :
Free Report: Top 8%+ Dividends (paid monthly) In Monday trading, Regions Financial Corp's 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (NYSE:RF.PRB) is currently up about 0.5% on the day, while the common shares (NYSE:RF) are up about 0.4%.
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