In trading on Wednesday, shares of U.S. Bancorp's Series H Non-Cumulative Perpetual Preferred Stock (NYSE: USB.PRO) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.2875), with shares changing hands as low as $23.36 on the day. This compares to an average yield of 5.68% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, USB.PRO was trading at a 5.76% discount to its liquidation preference amount, versus the average premium of 0.96% 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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The chart below shows the one year performance of USB.PRO shares, versus USB:
Below is a dividend history chart for USB.PRO, showing historical dividend payments on U.S. Bancorp's Series H Non-Cumulative Perpetual Preferred Stock:
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In Wednesday trading, U.S. Bancorp's Series H Non-Cumulative Perpetual Preferred Stock (NYSE: USB.PRO) is currently up about 0.3% on the day, while the common shares (NYSE: USB) are down about 0.3%.
