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| Great-West Lifeco Non-Cumulative First Preferred Shares, Series P About To Put More Money In Your PocketBy Preferred Stock Channel Staff, Monday, February 26, 1:43 PM ET
On 2/28/24, Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series P (TSE:GWO.PRP.CA) will trade ex-dividend, for its quarterly dividend of $0.3375, payable on 3/28/24. As a percentage of GWO.PRP.CA's recent share price of $20.76, this dividend works out to approximately 1.63%, so look for shares of GWO.PRP.CA to trade 1.63% lower — all else being equal — when GWO.PRP.CA shares open for trading on 2/28/24. On an annualized basis, the current yield is approximately 6.51%. As of last close, GWO.PRP.CA was trading at a 17.04% 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 GWO.PRP.CA shares, versus GWO.CA:
Below is a dividend history chart for GWO.PRP.CA, showing historical dividends prior to the most recent $0.3375 on Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series P: Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
In Monday trading, Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series P (TSE:GWO.PRP.CA) is currently up about 0.1% on the day, while the common shares (TSE:GWO.CA) are trading flat.
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