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.
M&T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A Goes Ex-Dividend Soon
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