Markets

Industrial Alliance Insurance & Financial Services' Preferred Shares Series B Crosses Above 5% Yield Territory

Shutterstock photo
Shutterstock photo

Shutterstock photo

In trading on Friday, shares of Industrial Alliance Insurance & Financial Services Inc's Non-Cumulative Class A Preferred Shares Series B (TSX: IAG-PRA.TO ) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.15), with shares changing hands as low as $22.99 on the day. As of last close, IAG.PRA was trading at a 7.56% 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 IAG.PRA shares, versus IAG:

Performance Comparison Chart

Below is a dividend history chart for IAG.PRA, showing historical dividend payments on Industrial Alliance Insurance & Financial Services Inc's Non-Cumulative Class A Preferred Shares Series B:

IAG.PRA+Dividend+History+Chart

In Friday trading, Industrial Alliance Insurance & Financial Services Inc's Non-Cumulative Class A Preferred Shares Series B (TSX: IAG-PRA.TO ) is currently up about 0.4% on the day, while the common shares (TSX: IAG.TO ) are off about 0.9%.

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.