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| Pyxis Tankers 7.75% Series A Cumulative Convertible Preferred Shares Ex-Dividend ReminderBy Preferred Stock Channel Staff, Wednesday, August 9, 1:53 PM ET
On 8/11/23, Pyxis Tankers Inc's 7.75% Series A Cumulative Convertible Preferred Shares (NASDAQ:PXSAP) will trade ex-dividend, for its monthly dividend of $0.1615, payable on 8/21/23. As a percentage of PXSAP's recent share price of $23.10, this dividend works out to approximately 0.70%, so look for shares of PXSAP to trade 0.70% lower — all else being equal — when PXSAP shares open for trading on 8/11/23. On an annualized basis, the current yield is approximately 8.42%, which compares to an average yield of 7.56% in the "Shipping" preferred stock category, according to Preferred Stock Channel. As of last close, PXSAP was trading at a 7.96% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 17.86. The chart below shows the one year performance of PXSAP shares, versus PXS:
Below is a dividend history chart for PXSAP, showing historical dividends prior to the most recent $0.1615 on Pyxis Tankers Inc's 7.75% Series A Cumulative Convertible Preferred Shares: Free Report: Top 8%+ Dividends (paid monthly)
In Wednesday trading, Pyxis Tankers Inc's 7.75% Series A Cumulative Convertible Preferred Shares (NASDAQ:PXSAP) is currently up about 0.4% on the day, while the common shares (NASDAQ:PXS) are up about 1.4%.
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