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| Truist Financial's Series R Preferred Stock Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Thursday, March 28, 2:50 PM ET
In trading on Thursday, shares of Truist Financial Corp's 4.75% Dep Shares Series R Non-Cumulative Preferred Stock (NYSE:TFC.PRR) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $21.54 on the day. This compares to an average yield of 6.64% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, TFC.PRR was trading at a 12.68% discount to its liquidation preference amount, versus the average discount of 8.97% 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 TFC.PRR shares, versus TFC:
Below is a dividend history chart for TFC.PRR, showing historical dividend payments on Truist Financial Corp's 4.75% Dep Shares Series R Non-Cumulative Preferred Stock:
Free Report: Top 8%+ Dividends (paid monthly) In Thursday trading, Truist Financial Corp's 4.75% Dep Shares Series R Non-Cumulative Preferred Stock (NYSE:TFC.PRR) is currently down about 0.5% on the day, while the common shares (NYSE:TFC) are trading flat.
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