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:
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:
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%.
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