Markets

M & T Bank's Preferred Stock, Series A Shares Cross 6.5% Yield Mark

In trading on Wednesday, shares of M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A (Symbol: MTB.PR) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $63.75), with shares changing hands as low as $950.00 on the day. This compares to an average yield of 5.76% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, MTB.PR was trading at a 0.07% premium to its liquidation preference amount, versus the average discount of 4.63% in the "Financial" category.

The chart below shows the one year performance of MTB.PR shares, versus MTB:

Performance Comparison Chart

Below is a dividend history chart for MTB.PR, showing historical dividend payments on M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A:

MTB.PR+Dividend+History+Chart

In Wednesday trading, M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A (Symbol: MTB.PR) is currently down about 2.6% on the day, while the common shares (Symbol: MTB) are up about 2%.

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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