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Ex-Div Reminder for The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D

By Preferred Stock Channel Staff, Friday, August 11, 1:33 PM ET
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On 8/15/17, The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:SCHW.PRD) will trade ex-dividend, for its quarterly dividend of $0.372, payable on 9/1/17. As a percentage of SCHW.PRD's recent share price of $27.45, this dividend works out to approximately 1.36%, so look for shares of SCHW.PRD to trade 1.36% lower all else being equal when SCHW.PRD shares open for trading on 8/15/17. On an annualized basis, the current yield is approximately 5.40%, which compares to an average yield of 5.52% in the "Financial" preferred stock category, according to Preferred Stock Channel.

As of last close, SCHW.PRD was trading at a 10.28% premium to its liquidation preference amount, versus the average premium of 6.28% in the "Financial" category. 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 SCHW.PRD shares, versus SCHW:

Performance Comparison Chart

Below is a dividend history chart for SCHW.PRD, showing historical dividends prior to the most recent $0.372 on The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D:


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According to the ETF Finder at ETF Channel, The Charles Schwab Corporation (NYSE:SCHW) makes up 8.58% of the iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) which is trading lower by about 0.3% on the day Friday.

See what other ETFs contain SCHW
See what other stocks are held by IAI

In Friday trading, The Charles Schwab Corporation's 5.95% Non-Cumulative Perpetual Preferred Stock, Series D (NYSE:SCHW.PRD) is currently down about 0.4% on the day, while the common shares (NYSE:SCHW) are off about 0.1%.


This Article's Word Cloud:   Channel   Charles   Corporation   Cumulative   Financial   Friday   Investors   NYSE   Perpetual   Preferred   SCHW   Schwab   Series   Seven   Special   Stock   about   afterLeftLabels   approximately   average   category   chart   chartBackgroundColor   clientId   common   dividend   dividends   escape   fillColor   history   keep   lower   makes   missed   movingAverages   open   other   percentage   period   preferred   premium   recent   shares   that   trade   trading   versus   what   which   yield

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