On 6/12/14, Southern Company's 5.20% Class A Preferred Stock (Symbol: ALP.PRN) will trade ex-dividend, for its quarterly dividend of $0.325, payable on 7/1/14. As a percentage of ALP.PRN's recent share price of $25.68, this dividend works out to approximately 1.27%, so look for shares of ALP.PRN to trade 1.27% lower - all else being equal - when ALP.PRN shares open for trading on 6/12/14. On an annualized basis, the current yield is approximately 5.07%, which compares to an average yield of 4.55% in the "Utilities" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of ALP.PRN shares, versus SO:
Below is a dividend history chart for ALP.PRN, showing historical dividends prior to the most recent $0.325 on Southern Company's 5.20% Class A Preferred Stock:
According to the ETF Finder at ETF Channel, Southern Company (Symbol: SO) makes up 7.36% of the Utilities Select Sector SPDR Fund ETF ( XLU ) which is trading lower by about 0.2% on the day Tuesday.
In Tuesday trading, Southern Company's 5.20% Class A Preferred Stock (Symbol: ALP.PRN) is currently trading flat on the day, while the common shares (Symbol: SO) are down about 0.1%.
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.
