Webster Financial’s Preferred Stock Series G Shares Cross 6.5% Yield Mark

In trading on Tuesday, shares of Webster Financial Corp’s 6.50% Non-Cumulative Perpetual Preferred Stock Series G (Symbol: WBS.PRG) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.625), with shares changing hands as low as $24.40 on the day. This compares to an average yield of 6.47% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, WBS.PRG was trading at a 0.12% premium to its liquidation preference amount, versus the average discount of 7.79% 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.PRG shares, versus WBS:

Below is a dividend history chart for WBS.PRG, showing historical dividend payments on Webster Financial Corp’s 6.50% Non-Cumulative Perpetual Preferred Stock Series G:

In Tuesday trading, Webster Financial Corp’s 6.50% Non-Cumulative Perpetual Preferred Stock Series G (Symbol: WBS.PRG) is currently off about 0.9% on the day, while the common shares (Symbol: WBS) are down about 1.7%.

Also see:

? Shipping Dividend Stocks
? OPB Options Chain
? Top Ten Hedge Funds Holding BHTG

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