Power Financial's Preferred Shares, Series P Yield Pushes Past 4%
In trading on Thursday, shares of Power Financial Corp's Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series P (TSX: PWF-PRP.TO ) were yielding above the 4% mark based on its quarterly dividend (annualized to $0.5765), with shares changing hands as low as $14.40 on the day. As of last close, PWF.PRP was trading at a 42.04% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible . 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.PRP shares, versus PWF:
Below is a dividend history chart for PWF.PRP, showing historical dividend payments on Power Financial Corp's Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series P :
In Thursday trading, Power Financial Corp's Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series P (TSX: PWF-PRP.TO ) is currently off about 0.6% on the day, while the common shares (TSX: PWF.TO ) are off about 0.9%.
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