On 3/13/14, Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares (VNO.PRL) will trade ex-dividend, for its quarterly dividend of $0.3375, payable on 4/1/14. As a percentage of VNO.PRL's recent share price of $21.10, this dividend works out to approximately 1.60%, so look for shares of VNO.PRL to trade 1.60% lower — all else being equal — when VNO.PRL shares open for trading on 3/13/14. On an annualized basis, the current yield is approximately 6.39%, which compares to an average yield of 7.41% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
Ex-Div Reminder for Vornado Realty Trust's 5.40% Series L Cumulative Redeemable Preferred Shares
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