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| Cash Dividend On The Way From Truist Financial Corp's Series I Non-Cumulative Perpetual Preferred StockBy Preferred Stock Channel Staff, Tuesday, February 6, 1:33 PM ET
On 2/8/24, Truist Financial Corp's Series I Non-Cumulative Perpetual Preferred Stock (NYSE:TFC.PRI) will trade ex-dividend, for its quarterly dividend of $0.3903, payable on 3/15/24. As a percentage of TFC.PRI's recent share price of $22.00, this dividend works out to approximately 1.77%, so look for shares of TFC.PRI to trade 1.77% lower — all else being equal — when TFC.PRI shares open for trading on 2/8/24. On an annualized basis, the current yield is approximately 7.13%, which compares to an average yield of 6.64% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, TFC.PRI was trading at a 12.40% 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 TFC.PRI shares, versus TFC:
Below is a dividend history chart for TFC.PRI, showing historical dividends prior to the most recent $0.3903 on Truist Financial Corp's Series I Non-Cumulative Perpetual Preferred Stock: Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday trading, Truist Financial Corp's Series I Non-Cumulative Perpetual Preferred Stock (NYSE:TFC.PRI) is currently up about 0.5% on the day, while the common shares (NYSE:TFC) are down about 0.8%.
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