Markets

Ex-Div Reminder for Algonquin Power & Utilities Corp's Cumulative Rate Reset Preferred Shares, Series A

Shutterstock photo
Shutterstock photo

Shutterstock photo

On 12/14/17, Algonquin Power & Utilities Corp's Cumulative Rate Reset Preferred Shares, Series A (TSX: AQN-PRA.TO ) will trade ex-dividend, for its quarterly dividend of $0.2812, payable on 12/29/17. As a percentage of AQN.PRA's recent share price of $23.90, this dividend works out to approximately 1.18%, so look for shares of AQN.PRA to trade 1.18% lower - all else being equal - when AQN.PRA shares open for trading on 12/14/17. On an annualized basis, the current yield is approximately 4.79%.

As of last close, AQN.PRA was trading at a 6.00% 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 AQN.PRA shares, versus AQN:

Performance Comparison Chart

Below is a dividend history chart for AQN.PRA, showing historical dividends prior to the most recent $0.2812 on Algonquin Power & Utilities Corp's Cumulative Rate Reset Preferred Shares, Series A:

AQN.PRA+Dividend+History+Chart

In Tuesday trading, Algonquin Power & Utilities Corp's Cumulative Rate Reset Preferred Shares, Series A (TSX: AQN-PRA.TO ) is currently up about 1.7% on the day, while the common shares (TSX: AQN.TO ) are down about 0.7%.

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.