In trading on Thursday, shares of First Republic Bank's 5.625% Noncumulative Perpetual Series C Preferred Stock (Symbol: FRC.PRC) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $25.51 on the day. This compares to an average yield of 5.57% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, FRC.PRC was trading at a 2.80% premium to its liquidation preference amount, versus the average premium of 3.52% 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 FRC.PRC shares, versus FRC:
Below is a dividend history chart for FRC.PRC, showing historical dividend payments on First Republic Bank's 5.625% Noncumulative Perpetual Series C Preferred Stock:
In Thursday trading, First Republic Bank's 5.625% Noncumulative Perpetual Series C Preferred Stock (Symbol: FRC.PRC) is currently up about 1.9% on the day, while the common shares (Symbol: FRC) are down about 0.7%.