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| WesBanco's Preferred Stock Series A Yield Pushes Past 7%By Preferred Stock Channel Staff, Tuesday, April 16, 2:19 PM ET
In trading on Tuesday, shares of WesBanco Inc's Rate Reset Non-Cumulative Preferred Stock Series A (NASDAQ:WSBCP) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.6875), with shares changing hands as low as $23.88 on the day. This compares to an average yield of 6.86% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WSBCP was trading at a 3.48% discount to its liquidation preference amount, versus the average discount of 12.16% 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 WSBCP shares, versus WSBC:
Below is a dividend history chart for WSBCP, showing historical dividend payments on WesBanco Inc's Rate Reset Non-Cumulative Preferred Stock Series A:
Free Report: Top 8%+ Dividends (paid monthly) In Tuesday trading, WesBanco Inc's Rate Reset Non-Cumulative Preferred Stock Series A (NASDAQ:WSBCP) is currently off about 0.5% on the day, while the common shares (NASDAQ:WSBC) are off about 0.8%.
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