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.
The article Zions Bancorp Declares Preferred Dividends originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.