On 2/27/14, Chesapeake Energy Corp.'s 4.50% Cumulative Convertible Preferred Stock (CHK.PRD) will trade ex-dividend, for its quarterly dividend of $1.125, payable on 3/17/14. As a percentage of CHK.PRD's recent share price of $93.00, this dividend works out to approximately 1.21%, so look for shares of CHK.PRD to trade 1.21% lower — all else being equal — when CHK.PRD shares open for trading on 2/27/14. On an annualized basis, the current yield is approximately 4.78%, which compares to an average yield of 6.47% in the "Energy" preferred stock category, according to Preferred Stock Channel.
As of last close, CHK.PRD was trading at a 5.76% discount to its liquidation preference amount, versus the average premium of 5.08% in the "Energy" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 2.2639. The chart below shows the one year performance of CHK.PRD shares, versus CHK:
Below is a dividend history chart for CHK.PRD, showing historical dividends prior to the most recent $1.125 on Chesapeake Energy Corp.'s 4.50% Cumulative Convertible Preferred Stock :
According to the ETF Finder at ETF Channel, Chesapeake Energy Corp. (CHK) makes up 4.96% of the Dynamic Energy Exploration & Production Portfolio ETF (PXE) which is trading up by about 0.1% on the day Tuesday.