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Fifth Third Bancorp's Non-Cumululative Perpetual Preferred Ex-Dividend ReminderBy Preferred Stock Channel Staff, Monday, March 25, 1:34 PM ETOn 3/27/24, Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (NASDAQ:FITBP) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 4/1/24. As a percentage of FITBP's recent share price of $25.13, this dividend works out to approximately 1.49%, so look for shares of FITBP to trade 1.49% lower — all else being equal — when FITBP shares open for trading on 3/27/24. On an annualized basis, the current yield is approximately 5.94%, which compares to an average yield of 6.62% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FITBP was trading at a 1.00% premium to its liquidation preference amount. 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 FITBP shares, versus FITB:
Below is a dividend history chart for FITBP, showing historical dividends prior to the most recent $0.375 on Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred: Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
In Monday trading, Fifth Third Bancorp's 6.00% Non-Cumululative Perpetual Preferred (NASDAQ:FITBP) is currently down about 0.5% on the day, while the common shares (NASDAQ:FITB) are trading flat.
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