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| Medallion Financial Corp's Preferred Stock Shares Cross 8% Yield MarkBy Preferred Stock Channel Staff, Wednesday, February 21, 2:12 PM ET
In trading on Wednesday, shares of Medallion Financial Corp's 8.0% Fix/Float Non-Cumulative Perpetual Preferred Stock, Ser F (NASDAQ:MBNKP) were yielding above the 8% mark based on its quarterly dividend (annualized to $2.00), with shares changing hands as low as $24.32 on the day. This compares to an average yield of 6.76% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MBNKP was trading at a 1.00% premium to its liquidation preference amount, versus the average discount of 10.10% 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 MBNKP shares, versus MFIN:
Below is a dividend history chart for MBNKP, showing historical dividend payments on Medallion Financial Corp's 8.0% Fix/Float Non-Cumulative Perpetual Preferred Stock, Ser F:
Free Report: Top 8%+ Dividends (paid monthly) In Wednesday trading, Medallion Financial Corp's 8.0% Fix/Float Non-Cumulative Perpetual Preferred Stock, Ser F (NASDAQ:MBNKP) is currently down about 1.9% on the day, while the common shares (NASDAQ:MFIN) are off about 16.8%.
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