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| LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock Goes Ex-Dividend SoonBy Preferred Stock Channel Staff, Wednesday, July 26, 1:49 PM ET
On 7/28/23, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (NYSE:LXP.PRC) will trade ex-dividend, for its quarterly dividend of $0.8125, payable on 8/15/23. As a percentage of LXP.PRC's recent share price of $48.39, this dividend works out to approximately 1.68%, so look for shares of LXP.PRC to trade 1.68% lower — all else being equal — when LXP.PRC shares open for trading on 7/28/23. On an annualized basis, the current yield is approximately 6.72%, which compares to an average yield of 8.02% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, LXP.PRC was trading at a 3.22% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.8643. The chart below shows the one year performance of LXP.PRC shares, versus LXP:
Below is a dividend history chart for LXP.PRC, showing historical dividends prior to the most recent $0.8125 on LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock: Free Report: Top 8%+ Dividends (paid monthly)
In Wednesday trading, LXP Industrial Trust's 6.50% Series C Cumulative Convertible Preferred Stock (NYSE:LXP.PRC) is currently off about 0.2% on the day, while the common shares (NYSE:LXP) are up about 1%.
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