Webster Financial's Series F Preferred Stock Crosses Above 6.5% Yield Territory

In trading on Thursday, shares of Webster Financial Corp's 5.25% Series F Non-Cumulative Perpetual Preferred Stock (Symbol: WBS.PRF) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.3125), with shares changing hands as low as $19.75 on the day. This compares to an average yield of 6.58% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WBS.PRF was trading at a 18.92% discount to its liquidation preference amount, versus the average discount of 8.23% 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.

The chart below shows the one year performance of WBS.PRF shares, versus WBS:

Below is a dividend history chart for WBS.PRF, showing historical dividend payments on Webster Financial Corp's 5.25% Series F Non-Cumulative Perpetual Preferred Stock: Free Report: Top 8%+ Dividends (paid monthly)

In Thursday trading, Webster Financial Corp's 5.25% Series F Non-Cumulative Perpetual Preferred Stock (Symbol: WBS.PRF) is currently down about 2.1% on the day, while the common shares (Symbol: WBS) are off about 0.2%.

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