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Ex-Div Reminder for Highland Income Fund's 5.375% Series A Cumulative Preferred Shares

By Preferred Stock Channel Staff, Monday, September 20, 2:05 PM ET

On 9/22/21, Highland Income Fund's 5.375% Series A Cumulative Preferred Shares (NYSE:HFRO.PRA) will trade ex-dividend, for its quarterly dividend of $0.3359, payable on 9/30/21. As a percentage of HFRO.PRA's recent share price of $26.09, this dividend works out to approximately 1.29%, so look for shares of HFRO.PRA to trade 1.29% lower — all else being equal — when HFRO.PRA shares open for trading on 9/22/21. On an annualized basis, the current yield is approximately 5.15%, which compares to an average yield of 6.97% in the "NA" preferred stock category, according to Preferred Stock Channel.

As of last close, HFRO.PRA was trading at a 4.36% premium to its liquidation preference amount, versus the average premium of 4.97% in the "NA" category. The chart below shows the one year performance of HFRO.PRA shares, versus HFRO:

Performance Comparison Chart

Below is a dividend history chart for HFRO.PRA, showing historical dividends prior to the most recent $0.3359 on Highland Income Fund's 5.375% Series A Cumulative Preferred Shares :

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In Monday trading, Highland Income Fund's 5.375% Series A Cumulative Preferred Shares (NYSE:HFRO.PRA) is currently trading flat on the day, while the common shares (NYSE:HFRO) are off about 0.7%.

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