Virtus Investment Partners Series D Mandatory Convertible Preferred Stock Goes Ex-Dividend Soon

On 10/12/17, Virtus Investment Partners Incorporated’s 7.25% Series D Mandatory Convertible Preferred Stock (Symbol: VRTSP) will trade ex-dividend, for its quarterly dividend of $1.8125, payable on 11/1/17. As a percentage of VRTSP’s recent share price of $108.01, this dividend works out to approximately 1.68%, so look for shares of VRTSP to trade 1.68% lower – all else being equal – when VRTSP shares open for trading on 10/12/17. On an annualized basis, the current yield is approximately 6.74%, which compares to an average yield of 5.41% in the “Financial” preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of VRTSP shares, versus VRTS:

Performance Comparison Chart

Below is a dividend history chart for VRTSP, showing historical dividends prior to the most recent $1.8125 on Virtus Investment Partners Incorporated’s 7.25% Series D Mandatory Convertible Preferred Stock:

VRTSP+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Virtus Investment Partners Incorporated (Symbol: VRTS) makes up 1.03% of the SPDR SP Capital Markets ETF ( KCE ) which is trading higher by about 0.2% on the day Tuesday.

In Tuesday trading, Virtus Investment Partners Incorporated’s 7.25% Series D Mandatory Convertible Preferred Stock (Symbol: VRTSP) is currently up about 0.3% on the day, while the common shares (Symbol: VRTS) are up about 0.6%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen ยป


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