Shares of Webster Financial Corp’s 6.50% Non-Cumulative Perpetual Preferred Stock Series G (WBS.PRG) were yielding above 6.5% on Tuesday, with a quarterly dividend of $1.625. The stock traded as low as $24.40, a 0.12% premium to its liquidation preference amount. The shares are not cumulative, meaning missed payments do not have to be repaid before common dividends resume. WBS.PRG shares were down 0.9% on Tuesday, while common shares (WBS) were down 1.7%. This performance can be seen in the one-year chart comparing WBS.PRG to WBS.

Read more at Nasdaq: Webster Financial’s Preferred Stock Series G Shares Cross 6.5% Yield Mark