US Bancorp's Series M Preferred Stock Shares Cross 6% Yield Mark

In trading on Monday, shares of US Bancorp's 4.00% Dep Shares Series M Non-Cumul Perp Preferred Stock (Symbol: USB.PRR) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.00), with shares changing hands as low as $16.56 on the day. This compares to an average yield of 6.94% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, USB.PRR was trading at a 33.24% discount to its liquidation preference amount, versus the average discount of 13.78% 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.



Below is a dividend history chart for USB.PRR, showing historical dividend payments on US Bancorp's 4.00% Dep Shares Series M Non-Cumul Perp Preferred Stock:



In Monday trading, US Bancorp's 4.00% Dep Shares Series M Non-Cumul Perp Preferred Stock (Symbol: USB.PRR) is currently up about 0.1% on the day, while the common shares (Symbol: USB) are off about 2.1%.

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