On 11/29/23, Great-West Lifeco Inc’s Non-Cumulative First Preferred Shares, Series M (TSX: GWO-PRM.TO) will trade ex-dividend, for its quarterly dividend of $0.3625, payable on 12/29/23. As a percentage of GWO.PRM’s recent share price of $21.75, this dividend works out to approximately 1.67%, so look for shares of GWO.PRM to trade 1.67% lower — all else being equal — when GWO.PRM shares open for trading on 11/29/23. On an annualized basis, the current yield is approximately 6.62%.

As of last close, GWO.PRM was trading at a 12.40% 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 GWO.PRM shares, versus GWO:


Below is a dividend history chart for GWO.PRM, showing historical dividends prior to the most recent $0.3625 on Great-West Lifeco Inc’s Non-Cumulative First Preferred Shares, Series M:

GWO.PRM+Dividend+History+Chart



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

In Monday trading, Great-West Lifeco Inc’s Non-Cumulative First Preferred Shares, Series M (TSX: GWO-PRM.TO) is currently down about 0.7% on the day, while the common shares (TSX: GWO.TO) are trading flat.

Also see:

• Specialty Retail Dividend Stocks
• KIM Split History
• PMM Average Annual Return

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: Nasdaq

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