Dallas, Texas 08/28/2013 (Financialstrend) – Regions Financial Corporation (NYSE:RF) had recently announced the dividend payment of the company’s 6.375% Non Cumulative Perpetual Preferred stock of Series A and it had been reported that these stocks would commence to trade ex dividend from September 15, 2013. It had been announced that the dividends would be paid at the rate of $0.3984 per share which would prove to present a yield of 1.68% on the current price of the stock. The current yield on the Preferred stock on an annualized basis had been reported to be at 6.74%. It appears that the yield rate is quite valuable considering the average yield presented at 5.60% by the preferred stocks announced in the financial services companies.
It is worth noting that the preferred stock of Regions Financial Corporation (NYSE:RF) are not cumulative and this implies that the company will not have to make any accumulated payment of dividends in case if any one dividend payment is missed out in a year or quarter. The stock had recently been presenting losses to the investors in the recent trading sessions though the price movements are observed to be nearer to the 52 week high price levels of the company.
Regions Financial Corporation (NYSE:RF) had dipped on Tuesday to close at $9.47 per share and had thereby presented loss of 3.52% over the previous close. The intraday price movements of the stock had been in the range of $9.45 to $9.70 per share and the 52 week price levels are at low of $6.18 and high of $10.52 per share. The stock, on Tuesday, had presented trading volume of 20.36 million shares and the average level is at 15.69 million shares per day. There are 1.40 billion shares of the stock being traded in the markets and the institutional ownership is at 73%.