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.
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