Markets

Zions Bancorporation's Series G Fixed/Floating Rate Non-Cumulative Perpetual Preferred Stock About To Put More Money In Your Pocket

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Shutterstock photo

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On 5/27/16, Zions Bancorporation's Series G Fixed/Floating Rate Non-Cumulative Perpetual Preferred Stock (Symbol: ZB.PRG) will trade ex-dividend, for its quarterly dividend of $0.3937, payable on 6/15/16. As a percentage of ZB.PRG's recent share price of $27.45, this dividend works out to approximately 1.43%, so look for shares of ZB.PRG to trade 1.43% lower - all else being equal - when ZB.PRG shares open for trading on 5/27/16. On an annualized basis, the current yield is approximately 5.75%, which compares to an average yield of 5.49% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of ZB.PRG shares, versus ZION:

Performance Comparison Chart

Below is a dividend history chart for ZB.PRG, showing historical dividends prior to the most recent $0.3937 on Zions Bancorporation's Series G Fixed/Floating Rate Non-Cumulative Perpetual Preferred Stock :

ZB.PRG+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Zions Bancorporation (Symbol: ZION) makes up 2.98% of the First Trust NASDAQ ABA Community Bank Index Fund ETF ( QABA ) which is trading higher by about 1% on the day Wednesday.

In Wednesday trading, Zions Bancorporation's Series G Fixed/Floating Rate Non-Cumulative Perpetual Preferred Stock (Symbol: ZB.PRG) is currently up about 0.2% on the day, while the common shares (Symbol: ZION) are up about 2.4%.

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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ZB.PRG QABA ZION