In trading on Thursday, shares of Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $24.95 on the day. This compares to an average yield of 6.59% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FITBP was trading at a 0.40% premium to its liquidation preference amount, versus the average discount of 7.44% 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.
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Funds Holding GRID
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Below is a dividend history chart for FITBP, showing historical dividend payments on Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred:
Free Report: Top 8%+ Dividends (paid monthly)
In Thursday trading, Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) is currently down about 0.3% on the day, while the common shares (Symbol: FITB) are down about 0.9%.
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