Cash Dividend On The Way From AltaGas Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series A

On 9/14/17, AltaGas Ltd’s Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series A (TSX: ALA-PRA.TO ) will trade ex-dividend, for its quarterly dividend of $0.2112, payable on 9/29/17. As a percentage of ALA.PRA’s recent share price of $20.39, this dividend works out to approximately 1.04%, so look for shares of ALA.PRA to trade 1.04% lower – all else being equal – when ALA.PRA shares open for trading on 9/14/17. On an annualized basis, the current yield is approximately 4.14%.

As of last close, ALA.PRA was trading at a 18.44% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible . The chart below shows the one year performance of ALA.PRA shares, versus ALA:

Performance Comparison Chart

Below is a dividend history chart for ALA.PRA, showing historical dividends prior to the most recent $0.2112 on AltaGas Ltd’s Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series A:

ALA.PRA+Dividend+History+Chart

In Tuesday trading, AltaGas Ltd’s Cumulative Redeemable 5-Year Rate Reset Preferred Shares, Series A (TSX: ALA-PRA.TO ) is currently trading flat on the day, while the common shares (TSX: ALA.TO ) are off about 0.2%.


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