Magnum Hunter Resources Series C Cumulative Perpetual Preferred Stock Goes Ex-Dividend Soon

On 3/12/14, Magnum Hunter Resources Corp's 10.25% Series C Cumulative Perpetual Preferred Stock ( MHR.PRC) will trade ex-dividend, for its monthly dividend of $0.2135, payable on 3/31/14. As a percentage of MHR.PRC's recent share price of $25.96, this dividend works out to approximately 0.82%, so look for shares of MHR.PRC to trade 0.82% lower — all else being equal — when MHR.PRC shares open for trading on 3/12/14. On an annualized basis, the current yield is approximately 9.90%, which compares to an average yield of 8.78% in the "Oil & Gas Exploration & Production" 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, MHR.PRC was trading at a 3.56% premium to its liquidation preference amount. The chart below shows the one year performance of MHR.PRC shares, versus MHR:

Performance Comparison Chart

Below is a dividend history chart for MHR.PRC, showing historical dividends prior to the most recent $0.2135 on Magnum Hunter Resources Corp's 10.25% Series C Cumulative Perpetual Preferred Stock:

MHR.PRC+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Magnum Hunter Resources Corp ( MHR) makes up 4.68% of the First Trust ISE-Revere Natural Gas Index Fund ETF (FCG) which is trading lower by about 0.8% on the day Monday.

In Monday trading, Magnum Hunter Resources Corp's 10.25% Series C Cumulative Perpetual Preferred Stock ( MHR.PRC) is currently up about 0.3% on the day, while the common shares ( MHR) are off about 3%.

If you liked this article you might like

Wall Street's Energy Loans Suffer Frostbite From Warm Winter

Jim Cramer -- Fitbit Drop Signals Time to Buy; VeriFone Disappoints

Jim Cramer Says Drop in Fitbit Shares an Opportunity to Buy

Magnum Hunter Bondholders Hire Advisers on Eve of $29M Interest Payment

Magnum Hunter Resources Corporation (MHR) Stock: Weak On High Volume Today