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Power Financial Corp's Non-Cumulative First Preferred Shares, Series O Ex-Dividend Reminder

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Shutterstock photo

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On 4/6/16, Power Financial Corp's Non-Cumulative First Preferred Shares, Series O (TSX: PWF-PRO.TO ) will trade ex-dividend, for its quarterly dividend of $0.3625, payable on 4/30/16. As a percentage of PWF.PRO's recent share price of $25.33, this dividend works out to approximately 1.43%, so look for shares of PWF.PRO to trade 1.43% lower - all else being equal - when PWF.PRO shares open for trading on 4/6/16. On an annualized basis, the current yield is approximately 5.73%.

As of last close, PWF.PRO was trading at a 1.32% premium 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 PWF.PRO shares, versus PWF:

Performance Comparison Chart

Below is a dividend history chart for PWF.PRO, showing historical dividends prior to the most recent $0.3625 on Power Financial Corp's Non-Cumulative First Preferred Shares, Series O:

PWF.PRO+Dividend+History+Chart

In Monday trading, Power Financial Corp's Non-Cumulative First Preferred Shares, Series O (TSX: PWF-PRO.TO ) is currently trading flat on the day, while the common shares (TSX: PWF.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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