HomeMarket NewsFifth Third Bancorp's Preferred Shares Cross 6.5% Yield Mark

Fifth Third Bancorp's Preferred Shares Cross 6.5% Yield Mark

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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 β€œFinancial” 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 β€œFinancial” 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:

Performance Comparison Chart

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

FITBP+Dividend+History+Chart


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:

Β• Preferred Stock List
Β• LIVX Videos
Β• 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.

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