Laurentian Bank of Canada's Non-Cumulative Class A Preferred Shares, Series 11 About To Put More Money In Your Pocket


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On 12/5/16, Laurentian Bank of Canada's Non-Cumulative Class A Preferred Shares, Series 11 (TSX: LB-PRF.TO ) will trade ex-dividend, for its quarterly dividend of $0.25, payable on 12/15/16. As a percentage of LB.PRF's recent share price of $24.99, this dividend works out to approximately 1.00%, so look for shares of LB.PRF to trade 1.00% lower - all else being equal - when LB.PRF shares open for trading on 12/5/16. On an annualized basis, the current yield is approximately 4.04%.

As of last close, LB.PRF was trading at a 0.80% discount 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 LB.PRF shares, versus LB:

Performance Comparison Chart

Below is a dividend history chart for LB.PRF, showing historical dividends prior to the most recent $0.25 on Laurentian Bank of Canada's Non-Cumulative Class A Preferred Shares, Series 11:

LB.PRF+Dividend+History+Chart

In Thursday trading, Laurentian Bank of Canada's Non-Cumulative Class A Preferred Shares, Series 11 (TSX: LB-PRF.TO ) is currently up about 0.8% on the day, while the common shares (TSX: LB.TO ) are up about 1.4%.

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



This article appears in: Investing , Investing Ideas


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