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U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred Stock About To Put More Money In Your Pocket

On 12/27/13, U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred Stock (USB.PRH) will trade ex-dividend, for its quarterly dividend of $0.2236, payable on 1/15/14. As a percentage of USB.PRH's recent share price of $19.36, this dividend works out to approximately 1.16%, so look for shares of USB.PRH to trade 1.16% lower — all else being equal — when USB.PRH shares open for trading on 12/27/13. On an annualized basis, the current yield is approximately 4.59%, which compares to an average yield of 5.97% in the "Financial" preferred stock category, according to Preferred Stock Channel.

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As of last close, USB.PRH was trading at a 22.12% discount to its liquidation preference amount. 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 USB.PRH shares, versus USB:

Performance Comparison Chart



Below is a dividend history chart for USB.PRH, showing historical dividends prior to the most recent $0.2236 on U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred Stock:

USB.PRH+Dividend+History+Chart



According to the ETF Finder at ETF Channel, U.S. Bancorp (USB) makes up 19.76% of the iShares U.S. Regional Banks ETF (IAT) which is trading relatively unchanged on the day Thursday.

In Thursday trading, U.S. Bancorp's Series B Non-Cumulative Perpetual Preferred Stock (USB.PRH) is currently off about 0.6% on the day, while the common shares (USB) are trading flat.

Stock quotes in this article: USB 

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