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First Republic Bank's 5.70% Noncumulative Perpetual Series F Preferred Stock Shares Cross 6% Yield Mark


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In trading on Monday, shares of First Republic Bank's 5.70% Noncumulative Perpetual Series F Preferred Stock (Symbol: FRC.PRF) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.425), with shares changing hands as low as $23.69 on the day. This compares to an average yield of 5.83% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, FRC.PRF was trading at a 4.04% discount to its liquidation preference amount, versus the average premium of 0.70% 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.

Performance Comparison Chart

Below is a dividend history chart for FRC.PRF, showing historical dividend payments on First Republic Bank's 5.70% Noncumulative Perpetual Series F Preferred Stock:

FRC.PRF+Dividend+History+Chart

In Monday trading, First Republic Bank's 5.70% Noncumulative Perpetual Series F Preferred Stock (Symbol: FRC.PRF) is currently down about 1.1% on the day, while the common shares (Symbol: FRC) are off about 0.1%.

Click here to find out the 50 highest yielding preferreds »

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



This article appears in: Investing , Investing Ideas
Referenced Symbols: FRC.PRF , FRC



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