Cash Dividend On The Way From Magnum Hunter Resources Corp's 8% Series E Cumulative Convertible Preferred Stock

On 4/11/14, Magnum Hunter Resources Corp's 8% Series E Cumulative Convertible Preferred Stock ( MHR.PRE) will trade ex-dividend, for its monthly dividend of $0.1667, payable on 4/30/14. As a percentage of MHR.PRE's recent share price of $29.00, this dividend works out to approximately 0.57%, so look for shares of MHR.PRE to trade 0.57% lower — all else being equal — when MHR.PRE shares open for trading on 4/11/14. On an annualized basis, the current yield is approximately 6.93%, which compares to an average yield of 8.74% 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.PRE was trading at a 15.60% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 2.941176471. The chart below shows the one year performance of MHR.PRE shares, versus MHR:

Performance Comparison Chart

Below is a dividend history chart for MHR.PRE, showing historical dividends prior to the most recent $0.1667 on Magnum Hunter Resources Corp's 8% Series E Cumulative Convertible Preferred Stock:

MHR.PRE+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Magnum Hunter Resources Corp ( MHR) makes up 3.89% of the First Trust ISE-Revere Natural Gas Index Fund ETF (FCG) which is trading relatively unchanged on the day Wednesday.

In Wednesday trading, Magnum Hunter Resources Corp's 8% Series E Cumulative Convertible Preferred Stock ( MHR.PRE) is currently up about 0.3% on the day, while the common shares ( MHR) are trading flat.

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