US Bancorp's Series F Preferred Stock Yield Pushes Past 6%

In trading on Friday, shares of US Bancorp's Series F Non-Cumulative Perpetual Preferred Stock (Symbol: USB.PRM) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.625), with shares changing hands as low as $27.06 on the day. This compares to an average yield of 5.51% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, USB.PRM was trading at a 8.72% premium to its liquidation preference amount, versus the average premium of 6.02% 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 USB.PRM, showing historical dividend payments on US Bancorp's Series F Non-Cumulative Perpetual Preferred Stock:


In Friday trading, US Bancorp's Series F Non-Cumulative Perpetual Preferred Stock (Symbol: USB.PRM) is currently off about 0.4% on the day, while the common shares (Symbol: USB) are up about 0.6%.

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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.

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