In trading on Monday, shares of First Busey Corp's Dep Shares RPRSTG 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock (Symbol: BUSEP) were yielding above the 8% mark based on its quarterly dividend (annualized to $2.0625), with shares changing hands as low as $25.76 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, BUSEP was trading at a 3.24% premium to its liquidation preference amount, versus the average discount of 11.00% 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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Below is a dividend history chart for BUSEP, showing historical dividend payments on First Busey Corp's Dep Shares RPRSTG 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock:
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In Monday trading, First Busey Corp's Dep Shares RPRSTG 8.25% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock (Symbol: BUSEP) is currently trading flat on the day, while the common shares (Symbol: BUSE) are down about 0.1%.
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