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| Ex-Div Reminder for Selective Insurance Group Preferred StockBy Preferred Stock Channel Staff, Monday, November 27, 1:38 PM ET
On 11/29/23, Selective Insurance Group Inc's 4.60% Dep Shares Non-Cumul Prfd Stock Ser B (NASDAQ:SIGIP) will trade ex-dividend, for its quarterly dividend of $0.2875, payable on 12/15/23. As a percentage of SIGIP's recent share price of $16.83, this dividend works out to approximately 1.71%, so look for shares of SIGIP to trade 1.71% lower — all else being equal — when SIGIP shares open for trading on 11/29/23. On an annualized basis, the current yield is approximately 6.82%, which compares to an average yield of 7.11% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, SIGIP was trading at a 32.56% 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 SIGIP shares, versus SIGI:
Below is a dividend history chart for SIGIP, showing historical dividends prior to the most recent $0.2875 on Selective Insurance Group Inc's 4.60% Dep Shares Non-Cumul Prfd Stock Ser B: Free Report: Top 8%+ Dividends (paid monthly)
In Monday trading, Selective Insurance Group Inc's 4.60% Dep Shares Non-Cumul Prfd Stock Ser B (NASDAQ:SIGIP) is currently down about 0.2% on the day, while the common shares (NASDAQ:SIGI) are up about 0.1%.
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