Citizens Financial Group Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E About To Put More Money In Your Pocket

By Preferred Stock Channel Staff, Thursday, September 16, 1:38 PM ET

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On 9/20/21, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CFG.PRE) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 10/6/21. As a percentage of CFG.PRE's recent share price of $26.82, this dividend works out to approximately 1.17%, so look for shares of CFG.PRE to trade 1.17% lower — all else being equal — when CFG.PRE shares open for trading on 9/20/21. On an annualized basis, the current yield is approximately 4.66%, which compares to an average yield of 5.29% in the "Financial" preferred stock category, according to Preferred Stock Channel.

As of last close, CFG.PRE was trading at a 7.24% premium to its liquidation preference amount, versus the average premium of 7.13% 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 CFG.PRE shares, versus CFG:

Performance Comparison Chart

Below is a dividend history chart for CFG.PRE, showing historical dividends prior to the most recent $0.3125 on Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E:

Free Report: Top 7%+ Dividends (paid monthly)

In Thursday trading, Citizens Financial Group Inc's 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CFG.PRE) is currently trading flat on the day, while the common shares (NYSE:CFG) are up about 0.5%.

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Citizens Financial Group Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E About To Put More Money In Your Pocket

Citizens Financial Group Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E About To Put More Money In Your Pocket | www.PreferredStockChannel.com