Cash Dividend On The Way From Canadian Utilities Cumulative Redeemable Preferred Shares Series 1
On 8/9/18, Canadian Utilities Ltd's Cumulative Redeemable Preferred Shares Series 1 (TSX: CIU-PRA.TO ) will trade ex-dividend, for its quarterly dividend of $0.2875, payable on 9/1/18. As a percentage of CIU.PRA's recent share price of $21.61, 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 8/9/18. On an annualized basis, the current yield is approximately 5.32%.
As of last close, CIU.PRA was trading at a 13.56% discount to its liquidation preference amount. The chart below shows the one year performance of CIU.PRA shares, versus CU:
Below is a dividend history chart for CIU.PRA, showing historical dividends prior to the most recent $0.2875 on Canadian Utilities Ltd's Cumulative Redeemable Preferred Shares Series 1:
In Tuesday trading, Canadian Utilities Ltd's Cumulative Redeemable Preferred Shares Series 1 (TSX: CIU-PRA.TO ) is currently down about 1.3% on the day, while the common shares (TSX: CU.TO ) are off about 1.7%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.