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| Ex-Div Reminder for Heartland Financial USA Preferred StockBy Preferred Stock Channel Staff, Monday, March 25, 1:38 PM ET
On 3/27/24, Heartland Financial USA, Inc.'s Dep Share Rate Reset Non-Cumul Prfd Stock Ser E (NASDAQ:HTLFP) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 4/15/24. As a percentage of HTLFP's recent share price of $25.17, this dividend works out to approximately 1.74%, so look for shares of HTLFP to trade 1.74% lower — all else being equal — when HTLFP shares open for trading on 3/27/24. On an annualized basis, the current yield is approximately 6.89%, which compares to an average yield of 6.62% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, HTLFP was trading at a 1.56% premium 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 HTLFP shares, versus HTLF:
Below is a dividend history chart for HTLFP, showing historical dividends prior to the most recent $0.4375 on Heartland Financial USA, Inc.'s Dep Share Rate Reset Non-Cumul Prfd Stock Ser E: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Monday trading, Heartland Financial USA, Inc.'s Dep Share Rate Reset Non-Cumul Prfd Stock Ser E (NASDAQ:HTLFP) is currently down about 0.9% on the day, while the common shares (NASDAQ:HTLF) are up about 1.3%.
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