E-l Financial's Series B Preference Shares Cross 5.5% Yield Mark
In trading on Wednesday, shares of E-l Financial's Non-Cumulative Redeemable Series B Preference Shares (TSX: ELF-PRF.TO ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.325), with shares changing hands as low as $24.00 on the day. As of last close, ELF.PRF was trading at a 3.12% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible . Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
The chart below shows the one year performance of ELF.PRF shares, versus ELF:
Below is a dividend history chart for ELF.PRF, showing historical dividend payments on E-l Financial's Non-Cumulative Redeemable Series B Preference Shares:
In Wednesday trading, E-l Financial's Non-Cumulative Redeemable Series B Preference Shares (TSX: ELF-PRF.TO ) is currently down about 0.7% on the day, while the common shares (TSX: ELF.TO ) are up about 0.1%.