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First Republic Bank's Series D Preferred Stock Yield Pushes Past 5.5%

By Ru Back Packer Staff, Thursday, January 18, 2:52 PM ET
Play Video: The Importance of Dividends


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In trading on Thursday, shares of First Republic Bank's 5.50% Noncumulative Perpetual Series D Preferred Stock (NYSE:FRC.PRD) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $24.98 on the day. This compares to an average yield of 5.64% in the "Financial" preferred stock category, according to Ru Back Packer. As of last close, FRC.PRD was trading at a 0.40% premium to its liquidation preference amount, versus the average premium of 4.96% 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 FRC.PRD shares, versus FRC:

Performance Comparison Chart

Below is a dividend history chart for FRC.PRD, showing historical dividend payments on First Republic Bank's 5.50% Noncumulative Perpetual Series D Preferred Stock:


In Thursday trading, First Republic Bank's 5.50% Noncumulative Perpetual Series D Preferred Stock (NYSE:FRC.PRD) is currently down about 0.5% on the day, while the common shares (NYSE:FRC) are off about 1.9%.


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