In trading on Thursday, shares of Stifel Financial Corporation’s 6.125% Dep Shares Non-Cumulative Preferred Stock Series C (Symbol: SF.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.5312), with shares changing hands as low as $21.81 on the day. This compares to an average yield of 9.19% in the “Investment Brokerages” preferred stock category, according to Preferred Stock Channel. As of last close, SF.PRC was trading at a 12.28% discount to its liquidation preference amount, versus the average discount of 28.74% in the “Investment Brokerages” 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 SF.PRC, showing historical dividend payments on Stifel Financial Corporation’s 6.125% Dep Shares Non-Cumulative Preferred Stock Series C:
In Thursday trading, Stifel Financial Corporation’s 6.125% Dep Shares Non-Cumulative Preferred Stock Series C (Symbol: SF.PRC) is currently down about 0.4% on the day, while the common shares (Symbol: SF) are up about 4.1%.
