On 6/18/15, Northland Power Inc's Cumulative Rate Reset Preferred Shares, Series 3 (TSX: NPI-PRC.TO ) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 6/30/15. As a percentage of NPI.PRC's recent share price of $22.51, this dividend works out to approximately 1.39%, so look for shares of NPI.PRC to trade 1.39% lower - all else being equal - when NPI.PRC shares open for trading on 6/18/15. On an annualized basis, the current yield is approximately 5.60%.
As of last close, NPI.PRC was trading at a 10.60% 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 NPI.PRC shares, versus NPI:
Below is a dividend history chart for NPI.PRC, showing historical dividends prior to the most recent $0.3125 on Northland Power Inc's Cumulative Rate Reset Preferred Shares, Series 3:
According to the ETF Finder at ETF Channel, Northland Power Inc (TSX: NPI.TO ) makes up 5.55% of the YieldCo Index ETF ( YLCO ) which is trading higher by about 0.5% on the day Tuesday.
In Tuesday trading, Northland Power Inc's Cumulative Rate Reset Preferred Shares, Series 3 (TSX: NPI-PRC.TO ) is currently up about 0.7% on the day, while the common shares (TSX: NPI.TO ) are off about 0.4%.
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.
