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| RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares Goes Ex-Dividend SoonBy Preferred Stock Channel Staff, Tuesday, June 27, 2:08 PM ET
On 6/29/23, RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares (NYSE:RLJ.PRA) will trade ex-dividend, for its quarterly dividend of $0.4875, payable on 7/31/23. As a percentage of RLJ.PRA's recent share price of $23.93, this dividend works out to approximately 2.04%, so look for shares of RLJ.PRA to trade 2.04% lower — all else being equal — when RLJ.PRA shares open for trading on 6/29/23. On an annualized basis, the current yield is approximately 8.17%, which compares to an average yield of 8.15% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, RLJ.PRA was trading at a 4.52% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 0.2806. The chart below shows the one year performance of RLJ.PRA shares, versus RLJ:
Below is a dividend history chart for RLJ.PRA, showing historical dividends prior to the most recent $0.4875 on RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Tuesday trading, RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares (NYSE:RLJ.PRA) is currently up about 0.2% on the day, while the common shares (NYSE:RLJ) are up about 1%.
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