In trading on Thursday, shares of Fulton Financial Corp.'s 5.125% Dep Shares Non-Cumul Preferred Stock, Series A (Symbol: FULTP) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.281), with shares changing hands as low as $18.05 on the day. This compares to an average yield of 6.70% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FULTP was trading at a 25.52% discount to its liquidation preference amount, versus the average discount of 11.68% 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 FULTP, showing historical dividend payments on Fulton Financial Corp.'s 5.125% Dep Shares Non-Cumul Preferred Stock, Series A:
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In Thursday trading, Fulton Financial Corp.'s 5.125% Dep Shares Non-Cumul Preferred Stock, Series A (Symbol: FULTP) is currently down about 2.3% on the day, while the common shares (Symbol: FULT) are down about 7%.
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