Reminder: Crown Castle International Corp's 4.50% Mandatory Convertible Preferred Stock, Series A Goes Ex-Dividend Soon

On 4/11/14, Crown Castle International Corp's 4.50% Mandatory Convertible Preferred Stock, Series A (CCI.PRA) will trade ex-dividend, for its quarterly dividend of $1.125, payable on 5/1/14. As a percentage of CCI.PRA's recent share price of $101.80, this dividend works out to approximately 1.11%, so look for shares of CCI.PRA to trade 1.11% lower — all else being equal — when CCI.PRA shares open for trading on 4/11/14. On an annualized basis, the current yield is approximately 4.42%, which compares to an average yield of 5.81% in the "Communications Services" preferred stock category, according to Preferred Stock Channel.

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As of last close, CCI.PRA was trading at a 1.84% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.0811 to 1.3513.The chart below shows the one year performance of CCI.PRA shares, versus CCI:

Performance Comparison Chart

Below is a dividend history chart for CCI.PRA, showing historical dividends prior to the most recent $1.125 on Crown Castle International Corp's 4.50% Mandatory Convertible Preferred Stock, Series A:

CCI.PRA+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Crown Castle International Corp ( CCI) makes up 4.69% of the iShares Real Estate 50 ETF (FTY) which is trading lower by about 0.5% on the day Wednesday.

In Wednesday trading, Crown Castle International Corp's 4.50% Mandatory Convertible Preferred Stock, Series A ( CCI.PRA) is currently trading flat on the day, while the common shares ( CCI) are off about 0.2%.

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