In trading on Tuesday, shares of Regions Financial Corp’s 4.45% Dep Shares Series E Non-Cumulative Prfd Stock (Symbol: RF.PRE) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.1125), with shares changing hands as low as $15.39 on the day. This compares to an average yield of 7.13% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, RF.PRE was trading at a 36.08% discount to its liquidation preference amount, versus the average discount of 15.63% 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.
Below is a dividend history chart for RF.PRE, showing historical dividend payments on Regions Financial Corp’s 4.45% Dep Shares Series E Non-Cumulative Prfd Stock:
In Tuesday trading, Regions Financial Corp’s 4.45% Dep Shares Series E Non-Cumulative Prfd Stock (Symbol: RF.PRE) is currently off about 3% on the day, while the common shares (Symbol: RF) are off about 1.4%.
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