Markets

Cash Dividend On The Way From TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 5

Shutterstock photo
Shutterstock photo

Shutterstock photo

On 3/29/17, TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 5 (TSX: TRP-PRC.TO ) will trade ex-dividend, for its quarterly dividend of $0.1414, payable on 5/1/17. As a percentage of TRP.PRC's recent share price of $15.72, this dividend works out to approximately 0.90%, so look for shares of TRP.PRC to trade 0.90% lower - all else being equal - when TRP.PRC shares open for trading on 3/29/17. On an annualized basis, the current yield is approximately 3.58%.

As of last close, TRP.PRC was trading at a 36.72% 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 TRP.PRC shares, versus TRP:

Performance Comparison Chart

Below is a dividend history chart for TRP.PRC, showing historical dividends prior to the most recent $0.1414 on TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 5:

TRP.PRC+Dividend+History+Chart

According to the ETF Finder at ETF Channel, TransCanada Corp (TSX: TRP.TO ) makes up 5.03% of the SPDR S&P International Energy Sector ETF ( IPW ) which is trading lower by about 0.1% on the day Monday.

In Monday trading, TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 5 (TSX: TRP-PRC.TO ) is currently down about 0.6% on the day, while the common shares (TSX: TRP.TO ) are up about 0.6%.

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.