Associated Banc-Corp's Preferred Series F Shares Cross 7.5% Yield Mark

Associated Banc-Corp’s 5.625% Dep Shares Non-Cum Perp Preferred Shares, Series F (ASB.PRF) traded at an implied annualized dividend of $1.4062, pushing its yield above the 7.5% mark on Tuesday. The shares changed hands as low as $18.61 and, at last close, were quoted at a 23.64% discount to their liquidation preference. The Preferred Stock Channel cited an average 6.83% yield for “Financial” preferreds and an average 13.59% discount to liquidation value. ASB.PRF is non-cumulative, so missed dividends aren’t made up if payments resume.