Industrial Alliance Insurance & Financial Services' Preferred Shares Series B Crosses Above 5% Yield Territory

In trading on Friday, shares of Industrial Alliance Insurance Financial Services Inc’s Non-Cumulative Class A Preferred Shares Series B (TSX: IAG-PRA.TO ) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.15), with shares changing hands as low as $22.99 on the day. As of last close, IAG.PRA was trading at a 7.56% 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 IAG.PRA shares, versus IAG:

Performance Comparison Chart

Below is a dividend history chart for IAG.PRA, showing historical dividend payments on Industrial Alliance Insurance Financial Services Inc’s Non-Cumulative Class A Preferred Shares Series B:

IAG.PRA+Dividend+History+Chart

In Friday trading, Industrial Alliance Insurance Financial Services Inc’s Non-Cumulative Class A Preferred Shares Series B (TSX: IAG-PRA.TO ) is currently up about 0.4% on the day, while the common shares (TSX: IAG.TO ) are off about 0.9%.

Click here to find out which 9 other Canadian dividend stocks just recently went ”on sale” and crossed into new yield territory »


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