On 10/7/15, Power Financial Corp's Non-Cumulative First Preferred Shares, Series S (TSX: PWF-PRS.TO ) will trade ex-dividend, for its quarterly dividend of $0.30, payable on 10/31/15. As a percentage of PWF.PRS's recent share price of $21.30, this dividend works out to approximately 1.41%, so look for shares of PWF.PRS to trade 1.41% lower - all else being equal - when PWF.PRS shares open for trading on 10/7/15. On an annualized basis, the current yield is approximately 5.59%.
As of last close, PWF.PRS was trading at a 14.00% 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 PWF.PRS shares, versus PWF:
Below is a dividend history chart for PWF.PRS, showing historical dividends prior to the most recent $0.30 on Power Financial Corp's Non-Cumulative First Preferred Shares, Series S:
According to the ETF Finder at ETF Channel, Power Financial Corp (TSX: PWF.TO ) makes up 2.76% of the Morningstar International Moat ETF ( MOTI ) which is trading relatively unchanged on the day Monday.
In Monday trading, Power Financial Corp's Non-Cumulative First Preferred Shares, Series S (TSX: PWF-PRS.TO ) is currently down about 0.9% on the day, while the common shares (TSX: PWF.TO ) are trading flat.