Protective Life Corp.'s 6 1/8% Trust Originated Preferred Securities About To Put More Money In Your Pocket

On 12/24/13, Protective Life Corp.'s 6 1/8% Trust Originated Preferred Securities ( PL.PRB) will trade ex-dividend, for its quarterly dividend of $0.3828, payable on 12/30/13. As a percentage of PL.PRB's recent share price of $24.87, this dividend works out to approximately 1.54%, so look for shares of PL.PRB to trade 1.54% lower — all else being equal — when PL.PRB shares open for trading on 12/24/13. On an annualized basis, the current yield is approximately 6.22%, which compares to an average yield of 5.95% in the "Financial" 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, PL.PRB was trading at a 1.60% discount to its liquidation preference amount. The chart below shows the one year performance of PL.PRB shares, versus PL:

Performance Comparison Chart

Below is a dividend history chart for PL.PRB, showing historical dividends prior to the most recent $0.3828 on Protective Life Corp.'s 6 1/8% Trust Originated Preferred Securities:

PL.PRB+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Protective Life Corp. ( PL) makes up 2.16% of the SPDR S&P Insurance ETF (KIE) which is trading up by about 0.8% on the day Friday.

In Friday trading, Protective Life Corp.'s 6 1/8% Trust Originated Preferred Securities ( PL.PRB) is currently up about 1.1% on the day, while the common shares ( PL) are up about 1%.

If you liked this article you might like

Platinum Prices to Soar Over $1,000 Despite VW Scandal - CPM Group

Absolute Bottom in Gold Confirmed for This Technical Analyst

Japan’s Meiji Yasuda to Expand in U.S. With $5B Deal for StanCorp

Bulls Disappointed Gold Only Gained a Fraction Reacting to Greece

Gold Bulls Disappointed by Metal's Reaction to Greece