Cash Dividend On The Way From RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares

By Preferred Stock Channel Staff, Monday, March 25, 1:35 PM ET

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On 3/27/24, RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares (NYSE:RLJ.PRA) will trade ex-dividend, for its quarterly dividend of $0.4875, payable on 4/30/24. As a percentage of RLJ.PRA's recent share price of $25.08, this dividend works out to approximately 1.94%, so look for shares of RLJ.PRA to trade 1.94% lower — all else being equal — when RLJ.PRA shares open for trading on 3/27/24. On an annualized basis, the current yield is approximately 7.81%, which compares to an average yield of 7.67% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

As of last close, RLJ.PRA was trading at a 0.08% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 0.2806. The chart below shows the one year performance of RLJ.PRA shares, versus RLJ:

Performance Comparison Chart

Below is a dividend history chart for RLJ.PRA, showing historical dividends prior to the most recent $0.4875 on RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares:

Free Report: Top 8%+ Dividends (paid monthly)

In Monday trading, RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares (NYSE:RLJ.PRA) is currently up about 0.4% on the day, while the common shares (NYSE:RLJ) are up about 0.6%.

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Cash Dividend On The Way From RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares

Cash Dividend On The Way From RLJ Lodging Trust's $1.95 Series A Cumulative Convertible Preferred Shares | www.PreferredStockChannel.com