Power Corp. of Canada's Preferred Series B Shares Cross 5.5% Yield Mark
In trading on Monday, shares of Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series B (TSX: POW-PRB.TO) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.3375), with shares changing hands as low as $24.28 on the day. As of last close, POW.PRB was trading at a 2.28% 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 POW.PRB shares, versus POW:
Below is a dividend history chart for POW.PRB, showing historical dividend payments on Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series B:
In Monday trading, Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series B (TSX: POW-PRB.TO) is currently trading flat on the day, while the common shares (TSX: POW.TO) are up about 0.7%.