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Stifel Financial Corp | 6.25% Non-Cumulative Preferred Stock, Series B (SF.PRB)
Prospectus excerpt: Stifel Financial Corp. is offering 6,000,000 depositary shares, each representing a 1/1000th interest in a share of perpetual 6.25% Non-Cumulative Preferred Stock, Series B, $1.00 par value, with a liquidation preference of $25,000 per share (equivalent to $25 liquidation preference per depositary share) (the ìSeries B Preferred Stockî). Each depositary share, evidenced by a depositary receipt, entitles the holder, through the depositary, to a proportional fractional interest in all rights and preferences of the Series B Preferred Stock (including dividend, voting, redemption and liquidation rights). We will pay cash dividends on the Series B Preferred Stock, only when, as, and if declared by our board of directors, or a duly authorized committee of the board, out of funds legally available to pay dividends, at an annual rate of 6.25% on the liquidation preference amount of $25,000 per share of Series B Preferred Stock (equivalent to $1.5625 per depositary share per year), quarterly in arrears, on March 15, June 15, September 15 and December 15 of each year (each, a ìdividend payment dateî), beginning on June 15, 2019. Dividends on the Series B Preferred Stock will not be cumulative and will not be mandatory. In the event dividends are not declared on the Series B Preferred Stock for payment on any divided payment date, then those dividends will not be cumulative and will cease to accrue and be payable. If we have not declared a dividend before the dividend payment date for any dividend period, we will have no obligation to pay dividends accrued for that dividend period, whether or not dividends on the Series B Preferred Stock are declared for any future dividend period. We may redeem the Series B Preferred Stock in whole or in part, from time to time, on or after March 15, 2024, at a cash redemption price equal to $25,000 per share of Series B Preferred Stock (equivalent to $25 per depositary share) plus any declared and unpaid dividends, and without accumulation of any undeclared dividends, to, but excluding, the redemption date. We may also redeem the Series B Preferred Stock in whole but not in part upon certain events involving capital treatment as described in this prospectus supplement. If we redeem the Series B Preferred Stock, the depositary will redeem a proportionate number of depositary shares. Full Prospectus PDF », Secondary Prospectus PDF », SF Page »
Series: | B | Alternate symbology: | SF-B, SF-PB, SFprB | Redeemable?: | Yes | Call Date: | 3/15/2024 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 6,000,000 | Overallotment: | 900,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $24.28 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-0.72 (-2.88%) | Annualized Dividend: | 1.5625 | Recent Ex-Date: | 2/29/2024 | Current Yield: | 6.44% | Original Coupon: | 6.25% | Pay Period: | Quarterly | Pay Dates: | 15-Mar, 15-Jun, 15-Sep, 15-Dec | CDx3 Compliance Rating: |
Learn SF.PRB's Rating
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Stifel Financial is a financial holding company. Through its subsidiaries, Co. is engaged in retail brokerage; securities trading; investment banking; investment advisory; retail, consumer, and commercial banking; and related financial services. Co.'s segments are: Global Wealth Management, which provides securities transaction, brokerage, and investment services to its clients through the consolidated Stifel branch system; Institutional Group, which includes research, equity and fixed income institutional sales and trading, investment banking, public finance, and syndicate; and Other, which includes interest income from stock borrow activities and processing of securities transactions. Preferreds: SF.PRA, SF.PRB, SF.PRC, SF.PRD Open the SF Information Page »
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Name: |
Stifel Financial Corp |
Website: |
www.stifel.com |
Sector: |
Investment Brokerages |
Number of ETFs Holding SF: |
70 (see which ones) |
Total Market Value Held by ETFs: |
$1,384,165,307.16 |
Total Market Capitalization: |
$798,000,000 |
% of Market Cap. Held by ETFs: |
173.45% |
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