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| Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series A Ex-Dividend ReminderBy Preferred Stock Channel Staff, Tuesday, September 19, 1:33 PM ET
On 9/21/23, Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series A (TSE:POW.PRA.CA) will trade ex-dividend, for its quarterly dividend of $0.35, payable on 10/15/23. As a percentage of POW.PRA.CA's recent share price of $20.80, this dividend works out to approximately 1.68%, so look for shares of POW.PRA.CA to trade 1.68% lower — all else being equal — when POW.PRA.CA shares open for trading on 9/21/23. On an annualized basis, the current yield is approximately 6.73%. As of last close, POW.PRA.CA was trading at a 16.84% 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 POW.PRA.CA shares, versus POW.CA:
Below is a dividend history chart for POW.PRA.CA, showing historical dividends prior to the most recent $0.35 on Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series A: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Tuesday trading, Power Corp. of Canada's Non-Cumulative First Preferred Shares, Series A (TSE:POW.PRA.CA) is currently up about 0.1% on the day, while the common shares (TSE:POW.CA) are down about 1.4%.
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