Markets

Canadian Utilities Limited's Cumulative Redeemable Preferred Shares Series 1 About To Put More Money In Your Pocket

Shutterstock photo
Shutterstock photo

Shutterstock photo

On 5/5/16, Canadian Utilities Limited's Cumulative Redeemable Preferred Shares Series 1 (TSX: CIU-PRA.TO ) will trade ex-dividend, for its quarterly dividend of $0.2875, payable on 6/1/16. As a percentage of CIU.PRA's recent share price of $21.65, this dividend works out to approximately 1.33%, so look for shares of CIU.PRA to trade 1.33% lower - all else being equal - when CIU.PRA shares open for trading on 5/5/16. On an annualized basis, the current yield is approximately 5.38%.

As of last close, CIU.PRA was trading at a 14.40% discount to its liquidation preference amount. The chart below shows the one year performance of CIU.PRA shares, versus CU:

Performance Comparison Chart

Below is a dividend history chart for CIU.PRA, showing historical dividends prior to the most recent $0.2875 on Canadian Utilities Limited's Cumulative Redeemable Preferred Shares Series 1:

CIU.PRA+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Canadian Utilities Limited (TSX: CU.TO ) makes up 1.27% of the WisdomTree Global ex-U.S. Utilities Fund ETF ( DBU ) which is trading relatively unchanged on the day Tuesday.

In Tuesday trading, Canadian Utilities Limited's Cumulative Redeemable Preferred Shares Series 1 (TSX: CIU-PRA.TO ) is currently up about 1.2% on the day, while the common shares (TSX: CU.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.


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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