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TCF Financial's Series A Preferred Stock Crosses Above 7% Yield Territory

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Monday, shares of TCF Financial Corp's Series A Non-Cumulative Perpetual Preferred Stock (Symbol: TCB.PRB) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.875), with shares changing hands as low as $26.67 on the day. This compares to an average yield of 5.49% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, TCB.PRB was trading at a 7.44% premium to its liquidation preference amount, versus the average premium of 4.23% 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.

Performance Comparison Chart

Below is a dividend history chart for TCB.PRB, showing historical dividend payments on TCF Financial Corp's Series A Non-Cumulative Perpetual Preferred Stock :

TCB.PRB+Dividend+History+Chart

In Monday trading, TCF Financial Corp's Series A Non-Cumulative Perpetual Preferred Stock (Symbol: TCB.PRB) is currently off about 0.7% on the day, while the common shares (Symbol: TCB) are up about 0.4%.

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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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