Cash Dividend On The Way From Omnicare Series B Trust Preferred Income Equity Redeemable Securities

On 3/12/14, Omnicare Inc.'s Series B 4.00% Trust Preferred Income Equity Redeemable Securities (OCR.PRB) will trade ex-dividend, for its quarterly dividend of $0.50, payable on 3/17/14. As a percentage of OCR.PRB's recent share price of $72.65, this dividend works out to approximately 0.69%, so look for shares of OCR.PRB to trade 0.69% lower — all else being equal — when OCR.PRB shares open for trading on 3/12/14. On an annualized basis, the current yield is approximately 2.71%, which compares to an average yield of 3.60% in the "Healthcare" preferred stock category, according to Preferred Stock Channel.

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As of last close, OCR.PRB was trading at a 47.74% premium to its liquidation preference amount, versus the average premium of 29.80% in the "Healthcare" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.2248.The chart below shows the one year performance of OCR.PRB shares, versus OCR:

Performance Comparison Chart

Below is a dividend history chart for OCR.PRB, showing historical dividends prior to the most recent $0.50 on Omnicare Inc.'s Series B 4.00% Trust Preferred Income Equity Redeemable Securities:

OCR.PRB+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Omnicare Inc. ( OCR) makes up 2.13% of the SPDR S&PHealth Care Services ETF (XHS) which is trading relatively unchanged on the day Monday.

In Monday trading, Omnicare Inc.'s Series B 4.00% Trust Preferred Income Equity Redeemable Securities ( OCR.PRB) is currently down about 1.6% on the day, while the common shares ( OCR) are trading flat.

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