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| Cash Dividend On The Way From RenaissanceRe Holdings Dep Shares Series G Non-Cumul Preference SharesBy Preferred Stock Channel Staff, Monday, February 26, 1:37 PM ET
On 2/28/24, RenaissanceRe Holdings Ltd.'s 4.20% Dep Shares Series G Non-Cumul Preference Shares (NYSE:RNR.PRG) will trade ex-dividend, for its quarterly dividend of $0.2625, payable on 3/1/24. As a percentage of RNR.PRG's recent share price of $18.83, this dividend works out to approximately 1.39%, so look for shares of RNR.PRG to trade 1.39% lower — all else being equal — when RNR.PRG shares open for trading on 2/28/24. On an annualized basis, the current yield is approximately 5.56%, which compares to an average yield of 6.69% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, RNR.PRG was trading at a 24.52% 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 RNR.PRG shares, versus RNR:
Below is a dividend history chart for RNR.PRG, showing historical dividends prior to the most recent $0.2625 on RenaissanceRe Holdings Ltd.'s 4.20% Dep Shares Series G Non-Cumul Preference Shares: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Monday trading, RenaissanceRe Holdings Ltd.'s 4.20% Dep Shares Series G Non-Cumul Preference Shares (NYSE:RNR.PRG) is currently down about 0.2% on the day, while the common shares (NYSE:RNR) are up about 0.4%.
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