In trading on Tuesday, shares of US Bancorp’s 4.00% Dep Shares Series M Non-Cumul Perp Preferred Stock (Symbol: USB.PRR) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.00), with shares changing hands as low as $15.37 on the day. This compares to an average yield of 6.75% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, USB.PRR was trading at a 38.16% discount to its liquidation preference amount, versus the average discount of 12.47% 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 USB.PRR shares, versus USB:
Below is a dividend history chart for USB.PRR, showing historical dividend payments on US Bancorp’s 4.00% Dep Shares Series M Non-Cumul Perp Preferred Stock:
In Tuesday trading, US Bancorp’s 4.00% Dep Shares Series M Non-Cumul Perp Preferred Stock (Symbol: USB.PRR) is currently off about 0.4% on the day, while the common shares (Symbol: USB) are up about 0.6%.
Further USB.PRR Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
