On 4/29/14, M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A (MTB.PR) will trade ex-dividend, for its quarterly dividend of $15.9375, payable on 5/15/14. As a percentage of MTB.PR's recent share price of $1001.25, this dividend works out to approximately 1.59%, so look for shares of MTB.PR to trade 1.59% lower — all else being equal — when MTB.PR shares open for trading on 4/29/14. On an annualized basis, the current yield is approximately 6.37%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, MTB.PR was trading at a 0.12% premium to its liquidation preference amount. The chart below shows the one year performance of MTB.PR shares, versus MTB:
Below is a dividend history chart for MTB.PR, showing historical dividends prior to the most recent $15.9375 on M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A:
According to the ETF Finder at ETF Channel, M & T Bank Corp (MTB) makes up 4.20% of the iShares U.S. Regional Banks ETF (IAT) which is trading lower by about 0.9% on the day Friday.