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| Customers Bancorp's Preferred Stock, Series C Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Tuesday, February 2, 2:10 PM ET
In trading on Tuesday, shares of Customers Bancorp Inc's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C (CUBI.PRC) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3791), with shares changing hands as low as $25.06 on the day. This compares to an average yield of 6.15% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel. As of last close, CUBI.PRC was trading at a 0.44% premium to its liquidation preference amount, versus the average premium of 0.70% in the "Banking & Savings" 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 CUBI.PRC shares, versus CUBI:
Below is a dividend history chart for CUBI.PRC, showing historical dividend payments on Customers Bancorp Inc's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Tuesday trading, Customers Bancorp Inc's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C (CUBI.PRC) is currently down about 0.2% on the day, while the common shares (NYSE:CUBI) are down about 0.7%.
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