In trading on Monday, shares of US Bancorp's Fixed/Floating Dep Shares Non-Cumul Perp Preferred Stock, A (Symbol: USB.PRA) were yielding above the 7% mark based on its quarterly dividend (annualized to $60.6946), with shares changing hands as low as $861.02 on the day. This compares to an average yield of 6.68% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, USB.PRA was trading at a 12.90% discount to its liquidation preference amount, versus the average discount of 9.27% 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.
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Below is a dividend history chart for USB.PRA, showing historical dividend payments on US Bancorp's Fixed/Floating Dep Shares Non-Cumul Perp Preferred Stock, A:
In Monday trading, US Bancorp's Fixed/Floating Dep Shares Non-Cumul Perp Preferred Stock, A (Symbol: USB.PRA) is currently up about 0.1% on the day, while the common shares (Symbol: USB) are down about 0.3%.
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