On 6/12/14, Taubman Centers, Inc.'s 6.25% Series K Cumulative Redeemable Preferred Stock (Symbol: TCO.PRK) will trade ex-dividend, for its quarterly dividend of $0.3906, payable on 6/30/14. As a percentage of TCO.PRK's recent share price of $23.90, this dividend works out to approximately 1.63%, so look for shares of TCO.PRK to trade 1.63% lower - all else being equal - when TCO.PRK shares open for trading on 6/12/14. On an annualized basis, the current yield is approximately 6.54%, which compares to an average yield of 6.83% in the "Real Estate" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of TCO.PRK shares, versus TCO:
Below is a dividend history chart for TCO.PRK, showing historical dividends prior to the most recent $0.3906 on Taubman Centers, Inc.'s 6.25% Series K Cumulative Redeemable Preferred Stock :
According to the ETF Finder at ETF Channel, Taubman Centers, Inc. (Symbol: TCO) makes up 1.40% of the PowerShares Active U.S. Real Estate Fund ETF ( PSR ) which is trading relatively unchanged on the day Tuesday.
In Tuesday trading, Taubman Centers, Inc.'s 6.25% Series K Cumulative Redeemable Preferred Stock (Symbol: TCO.PRK) is currently trading flat on the day, while the common shares (Symbol: TCO) 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.