Cash Dividend On The Way From Health Care REIT's 6.50% Series I Cumulative Convertible Perpetual Preferred Stock

On 3/27/14, Health Care REIT Inc.'s 6.50% Series I Cumulative Convertible Perpetual Preferred Stock (HCN.PRI) will trade ex-dividend, for its quarterly dividend of $0.8125, payable on 4/15/14. As a percentage of HCN.PRI's recent share price of $55.35, this dividend works out to approximately 1.47%, so look for shares of HCN.PRI to trade 1.47% lower — all else being equal — when HCN.PRI shares open for trading on 3/27/14. On an annualized basis, the current yield is approximately 5.88%, which compares to an average yield of 7.31% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

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As of last close, HCN.PRI was trading at a 10.64% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 0.846.The chart below shows the one year performance of HCN.PRI shares, versus HCN:

Performance Comparison Chart

Below is a dividend history chart for HCN.PRI, showing historical dividends prior to the most recent $0.8125 on Health Care REIT Inc.'s 6.50% Series I Cumulative Convertible Perpetual Preferred Stock:

HCN.PRI+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Health Care REIT Inc. ( HCN) makes up 5.23% of the iShares Cohen & Steers REIT ETF (ICF) which is trading up by about 0.4% on the day Tuesday.

In Tuesday trading, Health Care REIT Inc.'s 6.50% Series I Cumulative Convertible Perpetual Preferred Stock ( HCN.PRI) is currently up about 0.1% on the day, while the common shares ( HCN) are up about 0.3%.

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