Brighthouse Financial Non-Cumulative Preferred Stock, Series A Ex-Dividend Reminder

By Preferred Stock Channel Staff, Tuesday, December 5, 1:35 PM ET

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On 12/7/23, Brighthouse Financial Inc's 6.600% Non-Cumulative Preferred Stock, Series A (NASDAQ:BHFAP) will trade ex-dividend, for its quarterly dividend of $0.4125, payable on 12/26/23. As a percentage of BHFAP's recent share price of $22.29, this dividend works out to approximately 1.85%, so look for shares of BHFAP to trade 1.85% lower — all else being equal — when BHFAP shares open for trading on 12/7/23. On an annualized basis, the current yield is approximately 7.41%, which compares to an average yield of 7.01% in the "Life & Health Insurance" preferred stock category, according to Preferred Stock Channel.

As of last close, BHFAP was trading at a 10.96% discount to its liquidation preference amount. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of BHFAP shares, versus BHF:

Performance Comparison Chart

Below is a dividend history chart for BHFAP, showing historical dividends prior to the most recent $0.4125 on Brighthouse Financial Inc's 6.600% Non-Cumulative Preferred Stock, Series A:

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In Tuesday trading, Brighthouse Financial Inc's 6.600% Non-Cumulative Preferred Stock, Series A (NASDAQ:BHFAP) is currently up about 0.1% on the day, while the common shares (NASDAQ:BHF) are down about 1.2%.

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Brighthouse Financial Non-Cumulative Preferred Stock, Series A Ex-Dividend Reminder

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