Bank of Nova Scotia Halifax's Preferred Shares Series 20 Cross Above 3.5% Yield Territory

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In trading on Monday, shares of Bank of Nova Scotia Halifax's Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 (TSX: BNS-PRQ.TO ) were yielding above the 3.5% mark based on its quarterly dividend (annualized to $0.9025), with shares changing hands as low as $25.70 on the day. As of last close, BNS.PRQ was trading at a 3.48% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible . Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of BNS.PRQ shares, versus BNS:

Performance Comparison Chart


Below is a dividend history chart for BNS.PRQ, showing historical dividend payments on Bank of Nova Scotia Halifax's Non-cumulative 5-Year Rate Reset Preferred Shares Series 20:

BNS.PRQ+Dividend+History+Chart

In Monday trading, Bank of Nova Scotia Halifax's Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 (TSX: BNS-PRQ.TO ) is currently down about 0.7% on the day, while the common shares (TSX: BNS.TO ) are off about 0.2%.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Investing Ideas

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