News Analyst
In trading on Tuesday, shares of Citizens Financial Group Inc’s 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.25), with shares changing hands as low as $20.77 on the day. This compares to an average yield of 6.43% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, CFG.PRE was trading at a 15.96% discount to its liquidation preference amount, versus the average discount of 6.52% 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 CFG.PRE, showing historical dividend payments on Citizens Financial Group Inc’s 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E:
In Tuesday trading, Citizens Financial Group Inc’s 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: CFG.PRE) is currently off about 1.1% on the day, while the common shares (Symbol: CFG) are down about 1.2%.
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