Commercial banking concern Taylor Capital Group (UNKNOWN:TAYC.DL) announced yesterday its second-quarter dividend on the preferred securities of TAYC Capital Trust I (UNKNOWN:TAYCP.DL). The quarterly dividend is set at an annualized rate of 9.75%, which works out to $0.6094 per share and will be payable on July 1 to holders of record on June 28. Taylor Capital has paid the same rate to investors every quarter since 2003.
TAYC Capital Trust I is an unconsolidated subsidiary of Taylor Capital, which no longer pays a quarterly dividend on its common stock, having ended the practice in 2008.
Fool contributor Rich Duprey and The Motley Fool have no position in any stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.