Ex-Div Reminder for Callon Petroleum Series A Cumulative Preferred Stock

On 6/11/14, Callon Petroleum Co.'s 10.0% Series A Cumulative Preferred Stock ( CPE.PRA) will trade ex-dividend, for its quarterly dividend of $1.25, payable on 6/30/14. As a percentage of CPE.PRA's recent share price of $55.45, this dividend works out to approximately 2.25%, so look for shares of CPE.PRA to trade 2.25% lower — all else being equal — when CPE.PRA shares open for trading on 6/11/14. On an annualized basis, the current yield is approximately 9.01%, which compares to an average yield of 8.64% in the "Oil & Gas Exploration & Production" preferred stock category, according to Preferred Stock Channel.

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As of last close, CPE.PRA was trading at a 11.02% premium to its liquidation preference amount. The chart below shows the one year performance of CPE.PRA shares, versus CPE:

Performance Comparison Chart

Below is a dividend history chart for CPE.PRA, showing historical dividends prior to the most recent $1.25 on Callon Petroleum Co.'s 10.0% Series A Cumulative Preferred Stock:

CPE.PRA+Dividend+History+Chart

In Monday trading, Callon Petroleum Co.'s 10.0% Series A Cumulative Preferred Stock ( CPE.PRA) is currently off about 0.1% on the day, while the common shares ( CPE) are up about 5.5%.

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