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TheStreet Open House

Cash Dividend On The Way From Taubman Centers Series J Cumulative Redeemable Preferred Stock

On 6/12/14, Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock (TCO.PRJ) will trade ex-dividend, for its quarterly dividend of $0.4062, payable on 6/30/14. As a percentage of TCO.PRJ's recent share price of $24.73, this dividend works out to approximately 1.64%, so look for shares of TCO.PRJ to trade 1.64% lower — all else being equal — when TCO.PRJ shares open for trading on 6/12/14. On an annualized basis, the current yield is approximately 6.55%, which compares to an average yield of 6.83% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

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As of last close, TCO.PRJ was trading at a 0.76% discount to its liquidation preference amount, versus the average premium of 0.88% in the "Real Estate" category. The chart below shows the one year performance of TCO.PRJ shares, versus TCO:

Performance Comparison Chart



Below is a dividend history chart for TCO.PRJ, showing historical dividends prior to the most recent $0.4062 on Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock :

TCO.PRJ+Dividend+History+Chart



According to the ETF Finder at ETF Channel, Taubman Centers, Inc. (TCO) makes up 1.40% of the PowerShares Active U.S. Real Estate Fund ETF (PSR) which is trading lower by about 0.9% on the day Tuesday.

In Tuesday trading, Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock (TCO.PRJ) is currently off about 0.3% on the day, while the common shares (TCO) are off about 1.2%.

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