In trading on Thursday, First Horizon Corp’s 6.50% Non-Cumulative Preferred Stock, Series E (Symbol: FHN.PRE), yielded over 7% based on its quarterly dividend of $1.625, with shares dropping as low as $23.20. This yield surpasses the average of 6.86% in the Financial preferred stock category, according to Preferred Stock Channel. As of the last close, FHN.PRE was trading at a 6.80% discount to its liquidation preference amount, compared to the average discount of 14.01% in the same category.
On the same day, FHN.PRE saw a decrease of approximately 0.3%, while the common shares (Symbol: FHN) experienced a rise of about 1.2%. Investors should note that the shares are non-cumulative, meaning missed dividend payments are not liable to be repaid before common dividends are resumed.
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