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| Cash Dividend On The Way From PG&E Corp's 5% 1st Preferred Non-RedeemableBy Preferred Stock Channel Staff, Wednesday, July 26, 1:50 PM ET
On 7/28/23, PG&E Corp's 5% 1st Preferred Non-Redeemable (AMEX:PCG.PRC) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 8/15/23. As a percentage of PCG.PRC's recent share price of $17.00, this dividend works out to approximately 1.84%, so look for shares of PCG.PRC to trade 1.84% lower — all else being equal — when PCG.PRC shares open for trading on 7/28/23. On an annualized basis, the current yield is approximately 7.35%, which compares to an average yield of 8.74% in the "Electric Utilities" preferred stock category, according to Preferred Stock Channel. As of last close, PCG.PRC was trading at a 33.98% discount to its liquidation preference amount. 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 PCG.PRC shares, versus PCG:
Below is a dividend history chart for PCG.PRC, showing historical dividends prior to the most recent $0.3125 on PG&E Corp's 5% 1st Preferred Non-Redeemable: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Wednesday trading, PG&E Corp's 5% 1st Preferred Non-Redeemable (AMEX:PCG.PRC) is currently trading flat on the day, while the common shares (NYSE:PCG) are trading flat.
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