Fifth Third Bancorp's Non-Cumululative Perpetual Preferred Goes Ex-Dividend Soon

On 3/28/23, Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 3/31/23. As a percentage of FITBP's recent share price of $21.86, this dividend works out to approximately 1.72%, so look for shares of FITBP to trade 1.72% lower — all else being equal — when FITBP shares open for trading on 3/28/23. On an annualized basis, the current yield is approximately 6.97%, which compares to an average yield of 6.72% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of FITBP shares, versus FITB:

Below is a dividend history chart for FITBP, showing historical dividends prior to the most recent $0.375 on Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred:

In Friday trading, Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) is currently up about 1.5% on the day, while the common shares (Symbol: FITB) are down about 0.7%.

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