In trading on Tuesday, shares of Great-West Lifeco Inc’s Non-Cumulative First Preferred Shares, Series R (TSX: GWO-PRR.TO) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.20), with shares changing hands as low as $19.81 on the day. As of last close, GWO.PRR was trading at a 19.20% 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.PRR shares, versus GWO:
Below is a dividend history chart for GWO.PRR, showing historical dividend payments on Great-West Lifeco Inc’s Non-Cumulative First Preferred Shares, Series R:
In Tuesday trading, Great-West Lifeco Inc’s Non-Cumulative First Preferred Shares, Series R (TSX: GWO-PRR.TO) is currently up about 2.2% on the day, while the common shares (TSX: GWO.TO) are trading flat.
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