In trading on Monday, shares of Power Financial Corp's Non-Cumulative First Preferred Shares, Series K (Toronto: PWF-PRK) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.2375), with shares changing hands as low as $24.73 on the day. As of last close, PWF.PRK was trading at a 0.80% 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 PWF.PRK shares, versus PWF:
Below is a dividend history chart for PWF.PRK, showing historical dividend payments on Power Financial Corp's Non-Cumulative First Preferred Shares, Series K:
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In Monday trading, Power Financial Corp's Non-Cumulative First Preferred Shares, Series K (Toronto: PWF-PRK) is currently off about 0.2% on the day, while the common shares (Toronto: PWF) are down about 0.5%.