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AltaGas's Preferred Shares, Series C Crosses Above 7.5% Yield Territory

In trading on Thursday, shares of AltaGas Ltd's Cumulative Redeemable 5,Year Rate Reset Preferred Shares, Series C (TSX: ALA-PRU.TO) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.3225), with shares changing hands as low as $17.30 on the day. As of last close, ALA.PRU was trading at a 28.56% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible.

The chart below shows the one year performance of ALA.PRU shares, versus ALA:

Performance Comparison Chart

Below is a dividend history chart for ALA.PRU, showing historical dividend payments on AltaGas Ltd's Cumulative Redeemable 5,Year Rate Reset Preferred Shares, Series C:

ALA.PRU+Dividend+History+Chart

In Thursday trading, AltaGas Ltd's Cumulative Redeemable 5,Year Rate Reset Preferred Shares, Series C (TSX: ALA-PRU.TO) is currently up about 0.8% on the day, while the common shares (TSX: ALA.TO) are down about 0.2%.

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

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