In trading on Thursday, shares of Fifth Third Bancorp’s 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $23.07 on the day. This compares to an average yield of 6.80% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, FITBP was trading at a 7.40% discount to its liquidation preference amount, versus the average discount of 10.90% 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 FITBP shares, versus FITB:

Below is a dividend history chart for FITBP, showing historical dividend payments on Fifth Third Bancorp’s 6.00% Non-Cumululative Perpetual Preferred:

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

In Thursday trading, Fifth Third Bancorp’s 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) is currently up about 0.9% on the day, while the common shares (Symbol: FITB) are up about 1%.

Also see:

• Preferred Stock List
• LIVX Videos
• PCG market cap history

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.