Ex-Div Reminder for Apartment Investment & Management Class Z Cumulative Preferred Stock

On 3/28/14, Apartment Investment & Management Co.'s 7.00% Class Z Cumulative Preferred Stock (AIV.PRZ) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 4/15/14. As a percentage of AIV.PRZ's recent share price of $25.32, this dividend works out to approximately 1.73%, so look for shares of AIV.PRZ to trade 1.73% lower — all else being equal — when AIV.PRZ shares open for trading on 3/28/14. On an annualized basis, the current yield is approximately 6.92%, which compares to an average yield of 7.31% 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, AIV.PRZ was trading at a 1.28% premium to its liquidation preference amount.The chart below shows the one year performance of AIV.PRZ shares, versus AIV:

Performance Comparison Chart

Below is a dividend history chart for AIV.PRZ, showing historical dividends prior to the most recent $0.4375 on Apartment Investment & Management Co.'s 7.00% Class Z Cumulative Preferred Stock:

AIV.PRZ+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Apartment Investment & Management Co. ( AIV) makes up 2.82% of the iShares Residential Real Estate Capped ETF (REZ) which is trading lower by about 0.4% on the day Wednesday.

In Wednesday trading, Apartment Investment & Management Co.'s 7.00% Class Z Cumulative Preferred Stock ( AIV.PRZ) is currently trading flat on the day, while the common shares ( AIV) are down about 1.1%.

More from Stocks

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

This Should Be Your Retirement Savings Plan When the Stock Market Crashes

This Should Be Your Retirement Savings Plan When the Stock Market Crashes