First Horizon’s Preferred Stock Series C Shares Cross 6.5% Yield Mark

In trading on Monday, shares of First Horizon Corp’s 6.60% Dep Shares Fix/Float Non-Cumul Pfd Stock Ser C (Symbol: FHN.PRC) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.65), with shares changing hands as low as $25.38 on the day. This compares to an average yield of 6.51% in the “Financial” preferred stock category, according to Preferred Stock Channel. As of last close, FHN.PRC was trading at a 1.96% premium to its liquidation preference amount, versus the average discount of 7.51% 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 FHN.PRC shares, versus FHN:

Below is a dividend history chart for FHN.PRC, showing historical dividend payments on First Horizon Corp’s 6.60% Dep Shares Fix/Float Non-Cumul Pfd Stock Ser C:

In Monday trading, First Horizon Corp’s 6.60% Dep Shares Fix/Float Non-Cumul Pfd Stock Ser C (Symbol: FHN.PRC) is currently up about 0.8% on the day, while the common shares (Symbol: FHN) are up about 1.5%.

Also see:

• Cheap Industrials Shares
• Institutional Holders of BDXA
• KIND Split History

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