Cash Dividend On The Way From Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock

On 9/27/13, Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock (RSO.PRB) will trade ex-dividend, for its quarterly dividend of $0.5156, payable on 10/30/13. As a percentage of RSO.PRB's recent share price of $23.55, this dividend works out to approximately 2.19%, so look for shares of RSO.PRB to trade 2.19% lower — all else being equal — when RSO.PRB shares open for trading on 9/27/13. On an annualized basis, the current yield is approximately 8.75%, which compares to an average yield of 7.50% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

START SLIDESHOW:
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

As of last close, RSO.PRB was trading at a 5.64% discount to its liquidation preference amount.The chart below shows the one year performance of RSO.PRB shares, versus RSO:

Performance Comparison Chart

Below is a dividend history chart for RSO.PRB, showing historical dividends prior to the most recent $0.5156 on Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock :

RSO.PRB+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Resource Capital Corp ( RSO) makes up 1.78% of the Mortgage REIT Income ETF (MORT) which is trading relatively unchanged on the day Wednesday.

In Wednesday trading, Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock ( RSO.PRB) is currently down about 0.2% on the day, while the common shares ( RSO) are trading flat.

null

More from Stocks

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline

Dow Slips 178 Points; S&P 500 and Nasdaq Also Decline

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament

What Does China's Tariff Deal Mean for Automakers Like Tesla?

What Does China's Tariff Deal Mean for Automakers Like Tesla?

Lowe's Taps Home Depot Veteran As New CEO

Lowe's Taps Home Depot Veteran As New CEO