Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series C Goes Ex-Dividend Soon


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On 6/21/17, Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series C (TSX: POW-PRC.TO ) will trade ex-dividend, for its quarterly dividend of $0.3625, payable on 7/15/17. As a percentage of POW.PRC's recent share price of $26.01, this dividend works out to approximately 1.39%, so look for shares of POW.PRC to trade 1.39% lower - all else being equal - when POW.PRC shares open for trading on 6/21/17. On an annualized basis, the current yield is approximately 5.57%.

As of last close, POW.PRC was trading at a 4.16% premium 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 POW.PRC shares, versus POW:

Performance Comparison Chart

Below is a dividend history chart for POW.PRC, showing historical dividends prior to the most recent $0.3625 on Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series C:

POW.PRC+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Power Corp. of Canada (TSX: POW.TO ) makes up 1.05% of the SPDR S&P Global Dividend ETF ( WDIV ) which is trading relatively unchanged on the day Monday.

In Monday trading, Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series C (TSX: POW-PRC.TO ) is currently off about 0.1% on the day, while the common shares (TSX: POW.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 Nasdaq, Inc.



This article appears in: Investing , Investing Ideas


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