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| Ex-Div Reminder for Braemar Hotels & Resorts Series B Cumulative Convertible Preferred StockBy Preferred Stock Channel Staff, Monday, March 25, 1:32 PM ET
On 3/27/24, Braemar Hotels & Resorts Inc's 5.50% Series B Cumulative Convertible Preferred Stock (NYSE:BHR.PRB) will trade ex-dividend, for its quarterly dividend of $0.3438, payable on 4/15/24. As a percentage of BHR.PRB's recent share price of $13.93, this dividend works out to approximately 2.47%, so look for shares of BHR.PRB to trade 2.47% lower — all else being equal — when BHR.PRB shares open for trading on 3/27/24. On an annualized basis, the current yield is approximately 9.87%, which compares to an average yield of 10.39% in the "Travel & Entertainment" preferred stock category, according to Preferred Stock Channel. As of last close, BHR.PRB was trading at a 44.28% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of $18.90 . The chart below shows the one year performance of BHR.PRB shares, versus BHR:
Below is a dividend history chart for BHR.PRB, showing historical dividends prior to the most recent $0.3438 on Braemar Hotels & Resorts Inc's 5.50% Series B Cumulative Convertible Preferred Stock: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Monday trading, Braemar Hotels & Resorts Inc's 5.50% Series B Cumulative Convertible Preferred Stock (NYSE:BHR.PRB) is currently down about 0.2% on the day, while the common shares (NYSE:BHR) are up about 3.1%.
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