Fifth Third Bancorp's Preferred Shares Cross 6% Yield Mark

In trading on Monday, shares of Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $24.80 on the day. This compares to an average yield of 6.73% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FITBP was trading at a 0.28% premium to its liquidation preference amount, versus the average discount of 10.70% 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 FITBP, showing historical dividend payments on Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred:



In Monday trading, Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (Symbol: FITBP) is currently off about 0.5% on the day, while the common shares (Symbol: FITB) are up about 0.4%.

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