On 9/11/14, 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 9/30/14. As a percentage of TCO.PRK's recent share price of $24.50, this dividend works out to approximately 1.59%, so look for shares of TCO.PRK to trade 1.59% lower - all else being equal - when TCO.PRK shares open for trading on 9/11/14. On an annualized basis, the current yield is approximately 6.32%, which compares to an average yield of 6.93% 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 3.78% of the iShares Retail Real Estate Capped ETF ( RTL ) 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 down about 0.8% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
