TCF Financial Sets Preferred Dividends

For holders of TCF Financials' non-convertible perpetual 7.5% Series A stock, the board of directors announced yesterday investors will receive $0.05 per share on August 30 to holders of record at the close of business on August 15.

For holders of the national bank holding company's non-convertible perpetual 6.45% Series B stock, the board said investors will receive $0.403125 per share on September 3 to holders of record at the close of business on August 15.

TCF also announced its second-quarter dividend of $0.05 per share on its common stock, the same rate it's paid since 2009. The bank holding company has made quarterly payouts to investors since 1988.

The regular dividend payment equates to a $0.20-per-share annual dividend, yielding 1.2% based on the closing price today of TCF Financials' stock.

TCB Dividend data by YCharts.

The article TCF Financial Sets Preferred Dividends originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. 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.