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IGM Financial's Preferred Series B Shares Cross 6% Yield Mark

In trading on Monday, shares of IGM Financial Inc's Non-Cumulative First Preferred Shares, Series B (TSX: IGM-PRB.TO ) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.475), with shares changing hands as low as $23.39 on the day. As of last close, IGM.PRB was trading at a 1.12% discount 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 IGM.PRB shares, versus IGM:

Performance Comparison Chart

Below is a dividend history chart for IGM.PRB, showing historical dividend payments on IGM Financial Inc's Non-Cumulative First Preferred Shares, Series B:

IGM.PRB+Dividend+History+Chart

In Monday trading, IGM Financial Inc's Non-Cumulative First Preferred Shares, Series B (TSX: IGM-PRB.TO ) is currently off about 5.3% on the day, while the common shares (TSX: IGM.TO ) are off about 0.3%.

Click here to find out which 9 other Canadian dividend stocks just recently went ''on sale'' and crossed into new yield territory »

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.

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