Markets

Power Financial's Preferred Shares, Series P Yield Pushes Past 4%

Shutterstock photo
Shutterstock photo

Shutterstock photo

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:

Performance Comparison Chart

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 :

PWF.PRP+Dividend+History+Chart

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%.

Click here to find out which 9 other Canadian dividend stocks just recently went ''on sale'' and crossed into new yield territory »

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.