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Cash Dividend On The Way From Birchcliff Energy Preferred Units

On 6/12/14, Birchcliff Energy Ltd's Preferred Units (TSX: BIR-PRA.TO ) will trade ex-dividend, for its quarterly dividend of $0.50, payable on 6/30/14. As a percentage of BIR.PRA's recent share price of $26.74, this dividend works out to approximately 1.87%, so look for shares of BIR.PRA to trade 1.87% lower - all else being equal - when BIR.PRA shares open for trading on 6/12/14. On an annualized basis, the current yield is approximately 7.48%.

As of last close, BIR.PRA was trading at a 7.00% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible . The chart below shows the one year performance of BIR.PRA shares, versus BIR:

Performance Comparison Chart

Below is a dividend history chart for BIR.PRA, showing historical dividends prior to the most recent $0.50 on Birchcliff Energy Ltd's Preferred Units:

BIR.PRA+Dividend+History+Chart

In Tuesday trading, Birchcliff Energy Ltd's Preferred Units (TSX: BIR-PRA.TO ) is currently trading flat on the day, while the common shares (TSX: BIR.TO ) are down about 1.2%.

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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