Cash Dividend On The Way From M&T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series C

By
A A A

On 4/29/14, M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series C (Symbol: MTB.PRC) will trade ex-dividend, for its quarterly dividend of $15.9375, payable on 5/15/14. As a percentage of MTB.PRC's recent share price of $968.00, this dividend works out to approximately 1.65%, so look for shares of MTB.PRC to trade 1.65% lower - all else being equal - when MTB.PRC shares open for trading on 4/29/14. On an annualized basis, the current yield is approximately 6.59%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of MTB.PRC shares, versus MTB:

Performance Comparison Chart


Below is a dividend history chart for MTB.PRC, showing historical dividends prior to the most recent $15.9375 on M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series C:

MTB.PRC+Dividend+History+Chart

According to the ETF Finder at ETF Channel, M & T Bank Corp (Symbol: MTB) makes up 4.20% of the iShares U.S. Regional Banks ETF ( IAT ) which is trading relatively unchanged on the day Friday.

In Friday trading, M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series C (Symbol: MTB.PRC) is currently trading flat on the day, while the common shares (Symbol: MTB) are trading flat.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »



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



This article appears in: Investing , Investing Ideas

Referenced Stocks: IAT , MTB.PRC , MTB

BNK Invest

BNK Invest

More from BNK Invest:

Related Videos

Stocks

Referenced

Most Active by Volume

69,589,453
  • $17.71 ▲ 0.51%
67,826,144
  • $92.90 ▼ 14.34%
43,457,267
  • $7.15 ▲ 5.61%
41,474,187
  • $112.94 ▲ 1.04%
39,656,564
  • $7.45 ▲ 4.78%
38,604,858
  • $15.49 ▲ 9.01%
34,600,059
  • $25.71 ▲ 0.35%
32,095,432
  • $104.58 ▲ 0.25%
As of 12/22/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com