Associated Banc-Corp’s Preferred Shares Yield Above 7%, Trading at Discount

In trading on Friday, shares of Associated Banc-Corp’s 5.625% Dep Shares Non-Cum Perp Preferred Shares, Series F (Symbol: ASB.PRF) yielded over 7% based on the quarterly dividend, which is annualized at $1.4062. During the trading day, shares dipped as low as $20.06. In contrast, the average yield for preferred stocks in the “Financial” category stands at 7.38%, according to Preferred Stock Channel.

Currently, ASB.PRF is trading at a 19.08% discount to its liquidation preference amount. This significantly exceeds the average discount of 8.53% found within the “Financial” sector. It’s important to note that ASB.PRF shares are classified as non-cumulative. This means if the company misses a dividend payment, it is not obligated to pay back the missed dividends to preferred shareholders before it resumes paying dividends to common shareholders.

Below is a dividend history chart for ASB.PRF, showing past dividend payments on Associated Banc-Corp’s 5.625% Dep Shares Non-Cum Perp Preferred Shares, Series F:

Free report: Top 8%+ Dividends (paid monthly)

In Friday’s market, Associated Banc-Corp’s 5.625% Dep Shares Non-Cum Perp Preferred Shares, Series F (Symbol: ASB.PRF) saw a minor decline of about 0.1% for the day, while the common shares (Symbol: ASB) dropped by approximately 1.4%.

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