Cullen/Frost Bankers' Preferred Stock, Series A Shares Cross 5.5% Yield Mark
In trading on Friday, shares of Cullen/Frost Bankers, Inc.'s 5.375% Non-Cumulative Perpetual Preferred Stock, Series A (Symbol: CFR.PRA) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3438), with shares changing hands as low as $24.35 on the day. This compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, CFR.PRA was trading at a 1.96% discount to its liquidation preference amount, versus the average premium of 0.77% 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 CFR.PRA shares, versus CFR:
Below is a dividend history chart for CFR.PRA, showing historical dividend payments on Cullen/Frost Bankers, Inc.'s 5.375% Non-Cumulative Perpetual Preferred Stock, Series A :
In Friday trading, Cullen/Frost Bankers, Inc.'s 5.375% Non-Cumulative Perpetual Preferred Stock, Series A (Symbol: CFR.PRA) is currently down about 0.3% on the day, while the common shares (Symbol: CFR) are down about 2.6%.