Credit: Shutterstock photoOn 6/4/14, Laurentian Bank of Canada's Non-Cumulative Class A Preferred Shares Series 10 (TSX: LB-PRE.TO ) will trade ex-dividend, for its quarterly dividend of $0.3281, payable on 6/15/14. As a percentage of LB.PRE's recent share price of $25.33, this dividend works out to approximately 1.30%, so look for shares of LB.PRE to trade 1.30% lower - all else being equal - when LB.PRE shares open for trading on 6/4/14. On an annualized basis, the current yield is approximately 5.19%.
As of last close, LB.PRE was trading at a 1.20% premium to its liquidation preference amount. 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 LB.PRE shares, versus LB:
Below is a dividend history chart for LB.PRE, showing historical dividends prior to the most recent $0.3281 on Laurentian Bank of Canada's Non-Cumulative Class A Preferred Shares Series 10:
In Monday trading, Laurentian Bank of Canada's Non-Cumulative Class A Preferred Shares Series 10 (TSX: LB-PRE.TO ) is currently up about 0.1% on the day, while the common shares (TSX: LB.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.
