Flagstar Bank's Preferred Stock Shares Reach 7% Yield

Flagstar Bank's Series A Preferred Stock shares have crossed the 7% yield mark with a quarterly dividend of $1.5936. The shares are trading at a 8.76% discount to their liquidation preference amount, compared to an average discount of 10.17% in the "Financial" category. Investors should note that the shares are non-cumulative, meaning the company does not have to pay the balance of missed dividends to preferred shareholders.