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| Regions Financial Corp's 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B Shares Cross 5.5% Yield MarkBy Preferred Stock Channel Staff, Tuesday, August 17, 3:05 PM ET
In trading on Tuesday, shares of Regions Financial Corp's 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (NYSE:RF.PRB) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.5938), with shares changing hands as low as $28.89 on the day. This compares to an average yield of 5.32% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, RF.PRB was trading at a 16.60% premium to its liquidation preference amount, versus the average premium of 7.21% 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 RF.PRB shares, versus RF:
Below is a dividend history chart for RF.PRB, showing historical dividend payments on Regions Financial Corp's 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B :
Free Report: Top 7%+ Dividends (paid monthly) In Tuesday trading, Regions Financial Corp's 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (NYSE:RF.PRB) is currently down about 0.4% on the day, while the common shares (NYSE:RF) are off about 2.4%.
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