PreferredStockChannel

MIND Technology Series A Cumulative Preferred Stock Goes Ex-Dividend Soon

By Preferred Stock Channel Staff, Tuesday, January 11, 2:33 PM ET

On 1/13/22, MIND Technology Inc's 9.00% Series A Cumulative Preferred Stock (NASDAQ:MINDP) will trade ex-dividend, for its quarterly dividend of $0.5625, payable on 1/31/22. As a percentage of MINDP's recent share price of $19.11, this dividend works out to approximately 2.94%, so look for shares of MINDP to trade 2.94% lower — all else being equal — when MINDP shares open for trading on 1/13/22. On an annualized basis, the current yield is approximately 12.08%, which compares to an average yield of 7.68% in the "Oil & Gas Equipment & Services" preferred stock category, according to Preferred Stock Channel.

As of last close, MINDP was trading at a 25.52% discount to its liquidation preference amount. The chart below shows the one year performance of MINDP shares, versus MIND:

Performance Comparison Chart

Below is a dividend history chart for MINDP, showing historical dividends prior to the most recent $0.5625 on MIND Technology Inc's 9.00% Series A Cumulative Preferred Stock:

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In Tuesday trading, MIND Technology Inc's 9.00% Series A Cumulative Preferred Stock (NASDAQ:MINDP) is currently up about 2.6% on the day, while the common shares (NASDAQ:MIND) are up about 1.9%.

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