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National Bank of Canada's Non-cumulative 5-Year Rate Reset First Preferred Shares Series 28 Goes Ex-Dividend Soon

On 4/9/14, National Bank of Canada's Non-cumulative 5-Year Rate Reset First Preferred Shares Series 28 (TSX: NA-PRQ.TO ) will trade ex-dividend, for its quarterly dividend of $0.2375, payable on 5/15/14. As a percentage of NA.PRQ's recent share price of $26.00, this dividend works out to approximately 0.91%, so look for shares of NA.PRQ to trade 0.91% lower - all else being equal - when NA.PRQ shares open for trading on 4/9/14. On an annualized basis, the current yield is approximately 3.67%.

As of last close, NA.PRQ was trading at a 3.56% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible . The chart below shows the one year performance of NA.PRQ shares, versus NA:

Performance Comparison Chart

Below is a dividend history chart for NA.PRQ, showing historical dividends prior to the most recent $0.2375 on National Bank of Canada's Non-cumulative 5-Year Rate Reset First Preferred Shares Series 28:

NA.PRQ+Dividend+History+Chart

In Monday trading, National Bank of Canada's Non-cumulative 5-Year Rate Reset First Preferred Shares Series 28 (TSX: NA-PRQ.TO ) is currently up about 0.1% on the day, while the common shares (TSX: NA.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.


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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