Synovus Financial 7 7/8% Fixed to Floating Rate Non Cumulative Perpetual Preferred Stock
By: Tim McPartland,
S&P Rating B- Moodys Rating Caa1
Security Ticker Symbol SNV-C
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Market Traded ON NYSE
Dividend Payment Paid on the 1st of February, May, August and November beginning on 11/1/2013
Monthly Dividend .487 Annual Dividend 1.946
Dividends will float after August 1, 2018 at a rate of 3 month Libor plus 6.39%
Securities may be redeemed, at the issuers option, as early as 07/31/2018 for a redemption price of $25/share plus accrued dividends
Dividend Payment Likely Will be a Qualified Distributions
Maturity Date None
Company Investor Relations Page for Synovus Financial
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Below you can find the offering Prospectus and Final Pricing Document
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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
