Intact Financial's Series 3 Shares Cross 4% Yield Mark
In trading on Monday, shares of Intact Financial Corp's Non-cumulative Rate Reset Class A Shares Series 3 (TSX: IFC-PRC.TO ) were yielding above the 4% mark based on its quarterly dividend (annualized to $1.05), with shares changing hands as low as $26.24 on the day. As of last close, IFC.PRC was trading at a 5.32% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible . 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 IFC.PRC shares, versus IFC:
Below is a dividend history chart for IFC.PRC, showing historical dividend payments on Intact Financial Corp's Non-cumulative Rate Reset Class A Shares Series 3:
In Monday trading, Intact Financial Corp's Non-cumulative Rate Reset Class A Shares Series 3 (TSX: IFC-PRC.TO ) is currently down about 0.1% on the day, while the common shares (TSX: IFC.TO ) are up about 0.1%.
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