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Reminder: Apartment Investment & Management Class Z Cumulative Preferred Stock Goes Ex-Dividend Soon

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Shutterstock photo

Shutterstock photo

On 6/29/16, Apartment Investment & Management Co's 7.00% Class Z Cumulative Preferred Stock (Symbol: AIV.PRZ) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 7/15/16. As a percentage of AIV.PRZ's recent share price of $25.57, this dividend works out to approximately 1.71%, so look for shares of AIV.PRZ to trade 1.71% lower - all else being equal - when AIV.PRZ shares open for trading on 6/29/16. On an annualized basis, the current yield is approximately 6.81%, which compares to an average yield of 6.94% in the "Real Estate" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of AIV.PRZ shares, versus AIV:

Performance Comparison Chart

Below is a dividend history chart for AIV.PRZ, showing historical dividends prior to the most recent $0.4375 on Apartment Investment & Management Co's 7.00% Class Z Cumulative Preferred Stock:

AIV.PRZ+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Apartment Investment & Management Co (Symbol: AIV) makes up 3.53% of the Guggenheim S&P 500 Equal Weight Real Estate ETF ( EWRE ) which is trading lower by about 1.3% on the day Monday.

In Monday trading, Apartment Investment & Management Co's 7.00% Class Z Cumulative Preferred Stock (Symbol: AIV.PRZ) is currently down about 0.5% on the day, while the common shares (Symbol: AIV) are up about 0.2%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

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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