Industrial Alliance Insurance & Financial Services Non-Cumulative Class A Preferred Shares Series B About To Put More Money In Your Pocket

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On 8/27/14, Industrial Alliance Insurance & Financial Services Inc's Non-Cumulative Class A Preferred Shares Series B (TSX: IAG-PRA.TO ) will trade ex-dividend, for its quarterly dividend of $0.2875, payable on 9/30/14. As a percentage of IAG.PRA's recent share price of $23.27, this dividend works out to approximately 1.24%, so look for shares of IAG.PRA to trade 1.24% lower - all else being equal - when IAG.PRA shares open for trading on 8/27/14. On an annualized basis, the current yield is approximately 4.95%.

As of last close, IAG.PRA was trading at a 6.92% discount to its liquidation preference amount. 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 IAG.PRA shares, versus IAG:

Performance Comparison Chart

Below is a dividend history chart for IAG.PRA, showing historical dividends prior to the most recent $0.2875 on Industrial Alliance Insurance & Financial Services Inc's Non-Cumulative Class A Preferred Shares Series B:

IAG.PRA+Dividend+History+Chart

In Monday trading, Industrial Alliance Insurance & Financial Services Inc's Non-Cumulative Class A Preferred Shares Series B (TSX: IAG-PRA.TO ) is currently trading flat on the day, while the common shares (TSX: IAG.TO ) are trading flat.



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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