Zions Bancorp Declares Preferred Dividends
Zions Bancorp , a collection of eight banks in certain western states of the U.S., announced yesterday its second-quarter dividend of $0.1717 per share on its 5.75% Series H preferred stock that trades on the NYSE under the symbol ZB.PRH.
The board of directors said the quarterly dividend is payable on June 15 to the holders of record at the close of business on June 1 and said the quarterly payment reflects the fact the shares were not outstanding for a full quarter. The Series H preferreds have a liquidation preference of $1,000 per share, equivalent to $25 per depositary share. The depositary shares are represented by depositary receipts.
Zions also pays a regular dividend that equates to a $0.16-per-share annual dividend, yielding 0.6% based on the closing price on May 30. It has paid a dividend since 1988.
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