PreferredStockChannel
People's United Financial Inc | Fixed-to-floating rate non-cumulative perpetual preferred stock, Series A (PBCTP)

Prospectus excerpt:  We will pay dividends on the Preferred Stock, when, as and if declared by our board of directors or a duly authorized committee of our board of directors and to the extent that we have lawfully available funds to pay dividends. From the date of original issuance to, but excluding, December 15, 2026, if declared, dividends will accrue and be payable on the liquidation preference amount, on a non-cumulative basis, at a rate of 5.625% per annum, payable quarterly in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on December 15, 2016. From and including December 15, 2026, if declared, dividends will be payable on the liquidation preference amount, on a non-cumulative basis, at a floating rate equal to three-month LIBOR plus a spread of 4.02% per annum, payable quarterly in arrears, on March 15, June 15, September 15 and December 15 of each year.

Full Prospectus PDF », PBCT Page »

Series:A
Redeemable?:Yes
Call Date:12/15/2026
Perpetual?:Yes
Cumulative?:No
Shares Offered:10,000,000
Liquidation Preference:$25
Recent Market Price:$26.07
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$1.07 (4.28%)
Annualized Dividend:1.40625
Recent Ex-Date:2/28/2022
Current Yield:5.39%
Original Coupon: 5.625% per annum. From and including December 15, 2026, if declared, dividends will be payable on the liquidation preference amount, on a non-cumulative basis, at a floating rate equal to three-month LIBOR plus a spread of 4.02% per annum.
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn PBCTP's Rating
People's United Financial is a bank holding company and a financial holding company. The principal business of Co. is to provide, through its subsidiary, People's United Bank, National Association and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. Co.'s reportable segments are: Commercial Banking, which includes commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending; and Retail Banking, which includes consumer lending (including residential mortgage and home equity lending) and consumer deposit gathering activities.

Preferred: PBCTP


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Name: 
People's United Financial Inc
Website: 
www.peoples.com
Sector: 
Banking & Savings

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