People's United Financial's Preferred Stock, Series A Shares Cross 6.5% Yield Mark

In trading on Wednesday, shares of People's United Financial Inc's Fixed-to-floating rate non-cumulative perpetual preferred stock, Series A (PBCTP) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $21.19 on the day. This compares to an average yield of 6.01% in the "Financial" preferred stock category, according to Preferred Stock Channel..