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

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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

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