Virtus Investment Partners Series D Mandatory Convertible Preferred Stock Ex-Dividend ReminderBy Preferred Stock Channel Staff, Wednesday, October 9, 1:36 PM ET
On 10/11/19, Virtus Investment Partners Inc's 7.25% Series D Mandatory Convertible Preferred Stock (NASDAQ:VRTSP) will trade ex-dividend, for its quarterly dividend of $1.8125, payable on 11/1/19. As a percentage of VRTSP's recent share price of $84.33, this dividend works out to approximately 2.15%, so look for shares of VRTSP to trade 2.15% lower — all else being equal — when VRTSP shares open for trading on 10/11/19. On an annualized basis, the current yield is approximately 8.38%, which compares to an average yield of 5.34% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, VRTSP was trading at a 13.15% discount to its liquidation preference amount, versus the average premium of 6.62% in the "Financial" category. It should be noted that the preferred shares are convertible, with a conversion ratio of $110 and $132. The chart below shows the one year performance of VRTSP shares, versus VRTS:
Below is a dividend history chart for VRTSP, showing historical dividends prior to the most recent $1.8125 on Virtus Investment Partners Inc's 7.25% Series D Mandatory Convertible Preferred Stock:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
In Wednesday trading, Virtus Investment Partners Inc's 7.25% Series D Mandatory Convertible Preferred Stock (NASDAQ:VRTSP) is currently down about 2.1% on the day, while the common shares (NASDAQ:VRTS) are down about 2.7%.
This Article's Word Cloud: Arial Below Channel Convertible Dividend Financial Going Investment Mandatory Newsletter Offer Partners Preferred Premium Receive Series Special Start Stock Stocks VRTS VRTSP Virtus Wednesday about according afterLeftLabels afternoon amount annualized approximately average axisColor background basis category chart dividend down escape fillColor mdash preferred recent shares trade trading versus with yield