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Cash Dividend On The Way From Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred Shares

By Preferred Stock Channel Staff, Monday, September 27, 1:31 PM ET

On 9/29/21, Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred Shares (NYSE:SRG.PRA) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 10/15/21. As a percentage of SRG.PRA's recent share price of $25.30, this dividend works out to approximately 1.73%, so look for shares of SRG.PRA to trade 1.73% lower — all else being equal — when SRG.PRA shares open for trading on 9/29/21. On an annualized basis, the current yield is approximately 6.93%, which compares to an average yield of 3.84% in the "REITs" preferred stock category, according to Preferred Stock Channel.

As of last close, SRG.PRA was trading at a 1.08% premium to its liquidation preference amount. The chart below shows the one year performance of SRG.PRA shares, versus SRG:

Performance Comparison Chart

Below is a dividend history chart for SRG.PRA, showing historical dividends prior to the most recent $0.4375 on Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred Shares :


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In Monday trading, Seritage Growth Properties's 7.00% Series A Cumulative Redeemable Preferred Shares (NYSE:SRG.PRA) is currently up about 0.1% on the day, while the common shares (NYSE:SRG) are up about 0.6%.


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