MBFIP
is a ticker symbol for a preferred stock issued by MB Financial Inc.,
a bank holding company based in Chicago, Illinois. The preferred stock
has a par value of $25 per share and pays a fixed dividend rate of
6.45% per annum, which is payable quarterly. The dividend rate is
fixed until June 30, 2023, after which it will be reset to a rate
equal to the then-current five-year Treasury rate plus a spread of
4.277%.
The MBFIP preferred stock is listed on the Nasdaq
Global Select Market under the ticker symbol MBFIP. It was issued in
January 2014 and has a liquidation preference of $25 per share. The
stock is callable at the issuer's discretion after January 30, 2019,
at a redemption price of $25 per share plus any accrued and unpaid
dividends.
Investors who purchase shares of MBFIP are entitled
to receive their dividend payments before any common stockholders.
This makes the stock less risky than the company's common stock, but
it also means that the dividend yield is typically lower.
MB
Financial Inc. operates as a bank holding company for MB Financial
Bank, N.A., which provides commercial banking products and services in
the Chicago metropolitan area. The company's offerings include deposit
products, loans, treasury management, wealth management, and leasing
services. MB Financial Inc. was acquired by Fifth Third Bancorp in
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