Markets

M&T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A Goes Ex-Dividend Soon

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Shutterstock photo

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On 1/30/17, M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A (Symbol: MTB.PR) will trade ex-dividend, for its quarterly dividend of $15.9375, payable on 2/15/17. As a percentage of MTB.PR's recent share price of $1042.50, this dividend works out to approximately 1.53%, so look for shares of MTB.PR to trade 1.53% lower - all else being equal - when MTB.PR shares open for trading on 1/30/17. On an annualized basis, the current yield is approximately 6.12%, which compares to an average yield of 5.65% in the "Financial" preferred stock category, according to Preferred Stock Channel . 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 dividends prior to the most recent $15.9375 on M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A:

MTB.PR+Dividend+History+Chart

According to the ETF Finder at ETF Channel, M & T Bank Corp (Symbol: MTB) makes up 4.76% of the iShares U.S. Regional Banks ETF ( IAT ) which is trading higher by about 0.2% on the day Thursday.

In Thursday trading, M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A (Symbol: MTB.PR) is currently trading flat on the day, while the common shares (Symbol: MTB) are up about 0.7%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

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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