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Huntington Bancshares' Series A Preferred Stock Yield Pushes Past 6%

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In trading on Monday, shares of Huntington Bancshares Inc's 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock (Symbol: HBANP) were yielding above the 6% mark based on its quarterly dividend (annualized to $85.00), with shares changing hands as low as $1406.17 on the day. This compares to an average yield of 5.41% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, HBANP was trading at a 44.75% premium to its liquidation preference amount, versus the average premium of 7.03% in the "Financial" category. It should be noted that the preferred shares are convertible , with a conversion ratio of 83.668. 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.

Performance Comparison Chart

Below is a dividend history chart for HBANP, showing historical dividend payments on Huntington Bancshares Inc's 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock :

HBANP+Dividend+History+Chart

In Monday trading, Huntington Bancshares Inc's 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock (Symbol: HBANP) is currently off about 2.9% on the day, while the common shares (Symbol: HBAN) are up about 0.5%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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