In trading on Friday, shares of Zions Bancorporation's Series G Fixed/Floating Rate Non-Cumulative Perpetual Preferred Stock (NYSE: ZB.PRG) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.575), with shares changing hands as low as $26.00 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, ZB.PRG was trading at a 5.12% premium to its liquidation preference amount, versus the average premium of 0.53% 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 ZB.PRG shares, versus ZION:
Below is a dividend history chart for ZB.PRG, showing historical dividend payments on Zions Bancorporation's Series G Fixed/Floating Rate Non-Cumulative Perpetual Preferred Stock :
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In Friday trading, Zions Bancorporation's Series G Fixed/Floating Rate Non-Cumulative Perpetual Preferred Stock (NYSE: ZB.PRG) is currently down about 0.9% on the day, while the common shares (NASD: ZION) are off about 0.6%.
