In trading on Friday, shares of Huntington Bancshares, Inc's 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock (NASD: HBANP) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $85.00), with shares changing hands as low as $1300.00 on the day. This compares to an average yield of 5.56% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, HBANP was trading at a 31.50% premium to its liquidation preference amount, versus the average discount of 0.59% in the "Financial" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 83.668. 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.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »
The chart below shows the one year performance of HBANP shares, versus HBAN:
Below is a dividend history chart for HBANP, showing historical dividend payments on Huntington Bancshares, Inc's 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock :
Special Offer: Establish a secure stream of income during your retirement years by following the Retiree Income Portfolio with this free 30 day trial
In Friday trading, Huntington Bancshares, Inc's 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock (NASD: HBANP) is currently up about 0.8% on the day, while the common shares (NASD: HBAN) are up about 1.1%.
