M&T Bank's Preferred Stock Series J Shares Reach 7% Yield Threshold

M&T Bank Corp's Dep Shares 7.500% Non-Cumulative Preferred Stock, Series J (MTB.PRJ) has crossed the 7% yield mark, trading as low as $26.65. The quarterly dividend is $1.875, and the shares are trading at an 8.40% premium to the liquidation preference amount. The common shares (MTB) are down 1.6% on the day.