Markets

Cash Dividend On The Way From TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 7

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Shutterstock photo

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On 6/28/17, TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 7 (TSX: TRP-PRD.TO ) will trade ex-dividend, for its quarterly dividend of $0.25, payable on 7/31/17. As a percentage of TRP.PRD's recent share price of $21.70, this dividend works out to approximately 1.15%, so look for shares of TRP.PRD to trade 1.15% lower - all else being equal - when TRP.PRD shares open for trading on 6/28/17. On an annualized basis, the current yield is approximately 4.61%.

As of last close, TRP.PRD was trading at a 13.16% 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.PRD shares, versus TRP:

Performance Comparison Chart

Below is a dividend history chart for TRP.PRD, showing historical dividends prior to the most recent $0.25 on TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 7:

TRP.PRD+Dividend+History+Chart

According to the ETF Finder at ETF Channel, TransCanada Corp (TSX: TRP.TO ) makes up 5.47% of the SPDR S&P International Energy Sector ETF ( IPW ) which is trading relatively unchanged on the day Monday.

In Monday trading, TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 7 (TSX: TRP-PRD.TO ) is currently down about 0.1% on the day, while the common shares (TSX: TRP.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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