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Cullen/Frost Bankers, Inc. | 4.45% Dep Shares Non-Cumulative Prfd Stock Series B (CFR.PRB)
Prospectus excerpt: We are offering 6,000,000 depositary shares, each representing a 1/40th ownership interest in a share of our 4.450% non-cumulative perpetual preferred stock, Series B, par value $0.01, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share) (the “Preferred Stock”). The depositary shares are represented by depositary receipts. Each holder of depositary shares will be entitled, in proportion to the applicable fraction of a share of Preferred Stock represented by such depositary shares, to all the rights and preferences of the Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary. We will pay dividends on the Preferred Stock, when, as, and if declared by our board of directors or a duly authorized committee of the board and to the extent that we have lawfully available funds to pay dividends. If declared, dividends will accrue and be payable on the liquidation preference amount, on a non-cumulative basis, at a rate of 4.450% per annum, quarterly, in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on March 15, 2021, from and including the date we first issue shares of Preferred Stock. Upon payment of any dividends on the Preferred Stock, holders of depositary shares are expected to receive a proportionate payment. Full Prospectus PDF », Secondary Prospectus PDF », CFR Page »
Series: | B | Alternate symbology: | CFR-B, CFR-PB, CFRprB | Redeemable?: | Yes | Call Date: | 12/15/2025 | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 6,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $18.31 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-6.69 (-26.76%) | Annualized Dividend: | 1.1125 | Recent Ex-Date: | 5/31/2024 | Current Yield: | 6.08% | Original Coupon: | 4.45% | Pay Period: | Quarterly | Pay Dates: | 15-Mar, 15-Jun, 15-Sep, 15-Dec | CDx3 Compliance Rating: |
Learn CFR.PRB's Rating
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Cullen/Frost Bankers is a holding company. Through its subsidiaries, Co. provides commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services. Co.'s operating segments include Banking and Frost Wealth Advisors. The Banking operating segment includes both commercial and consumer banking services and Frost Insurance Agency. The Frost Wealth Advisors operating segment includes fee-based services within private trust, retirement services, and financial management services, including personal wealth management and securities brokerage services. Preferreds: CFR.PRA, CFR.PRB Open the CFR Information Page »
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Name: |
Cullen/Frost Bankers, Inc. |
Website: |
www.frostbank.com |
Sector: |
Banking & Savings |
Number of ETFs Holding CFR: |
83 (see which ones) |
Total Market Value Held by ETFs: |
$1,397,894,092.1 |
Total Market Capitalization: |
$7,109,000,000 |
% of Market Cap. Held by ETFs: |
19.66% |
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