In trading on Monday, shares of Synovus Financial Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C (SNV.PRC) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.968), with shares changing hands as low as $28.02 on the day. This compares to an average yield of 5.69% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SNV.PRC was trading at a 12.80% premium to its liquidation preference amount, versus the average discount of 2.59% in the "Financial" 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.The chart below shows the one year performance of SNV.PRC shares, versus SNV: Below is a dividend history chart for SNV.PRC, showing historical dividend payments on Synovus Financial Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C : In Monday trading, Synovus Financial Corp.'s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C ( SNV.PRC) is currently up about 0.6% on the day, while the common shares ( SNV - Get Report) are up about 0.6%.
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