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| Cash Dividend On The Way From Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred SharesBy Preferred Stock Channel Staff, Tuesday, June 27, 2:12 PM ET
On 6/29/23, Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred Shares (NYSE:SRG.PRA) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 7/14/23. As a percentage of SRG.PRA's recent share price of $23.96, this dividend works out to approximately 1.83%, so look for shares of SRG.PRA to trade 1.83% lower — all else being equal — when SRG.PRA shares open for trading on 6/29/23. On an annualized basis, the current yield is approximately 7.38%, which compares to an average yield of 8.09% in the "REITs" preferred stock category, according to Preferred Stock Channel. As of last close, SRG.PRA was trading at a 5.20% discount to its liquidation preference amount. The chart below shows the one year performance of SRG.PRA shares, versus SRG:
Below is a dividend history chart for SRG.PRA, showing historical dividends prior to the most recent $0.4375 on Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred Shares : Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday trading, Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred Shares (NYSE:SRG.PRA) is currently up about 1.1% on the day, while the common shares (NYSE:SRG) are up about 3.7%.
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