Markets

Cash Dividend On The Way From Birchcliff Energy Cumulative Redeemable Preferred Shares, Series C

On 9/13/19, Birchcliff Energy Ltd's Cumulative Redeemable Preferred Shares, Series C (TSX: BIR-PRC.TO) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 9/30/19. As a percentage of BIR.PRC's recent share price of $24.67, this dividend works out to approximately 1.77%, so look for shares of BIR.PRC to trade 1.77% lower — all else being equal — when BIR.PRC shares open for trading on 9/13/19. On an annualized basis, the current yield is approximately 7.09%.

As of last close, BIR.PRC was trading at a 1.32% discount to its liquidation preference amount. The chart below shows the one year performance of BIR.PRC shares, versus BIR:

Performance Comparison Chart

Below is a dividend history chart for BIR.PRC, showing historical dividends prior to the most recent $0.4375 on Birchcliff Energy Ltd's Cumulative Redeemable Preferred Shares, Series C:

BIR.PRC+Dividend+History+Chart

In Wednesday trading, Birchcliff Energy Ltd's Cumulative Redeemable Preferred Shares, Series C (TSX: BIR-PRC.TO) is currently down about 0.9% on the day, while the common shares (TSX: BIR.TO) are down about 1.8%.

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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