Fairfax Financial Holdings Cumulative 5-Year Rate Reset Preferred Shares, Series K About To Put More Money In Your Pocket
On 12/14/16, Fairfax Financial Holdings Ltd's Cumulative 5-Year Rate Reset Preferred Shares, Series K (TSX: FFH-PRK.TO ) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 12/30/16. As a percentage of FFH.PRK's recent share price of $20.95, this dividend works out to approximately 1.49%, so look for shares of FFH.PRK to trade 1.49% lower - all else being equal - when FFH.PRK shares open for trading on 12/14/16. On an annualized basis, the current yield is approximately 5.99%.
As of last close, FFH.PRK was trading at a 16.52% 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 FFH.PRK shares, versus FFH:
Below is a dividend history chart for FFH.PRK, showing historical dividends prior to the most recent $0.3125 on Fairfax Financial Holdings Ltd's Cumulative 5-Year Rate Reset Preferred Shares, Series K:
According to the ETF Finder at ETF Channel, Fairfax Financial Holdings Ltd (TSX: FFH.TO ) makes up 1.76% of the SPDR MSCI Canada StrategicFactors ETF ( QCAN ) which is trading relatively unchanged on the day Monday.
In Monday trading, Fairfax Financial Holdings Ltd's Cumulative 5-Year Rate Reset Preferred Shares, Series K (TSX: FFH-PRK.TO ) is currently up about 0.4% on the day, while the common shares (TSX: FFH.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.