Cash Dividend On The Way From PartnerRe Series E Cumulative Redeemable Preferred Shares

On 8/20/14, PartnerRe Ltd.'s 7.25% Series E Cumulative Redeemable Preferred Shares ( PRE.PRE) will trade ex-dividend, for its quarterly dividend of $0.4531, payable on 9/2/14. As a percentage of PRE.PRE's recent share price of $27.54, this dividend works out to approximately 1.65%, so look for shares of PRE.PRE to trade 1.65% lower — all else being equal — when PRE.PRE shares open for trading on 8/20/14. On an annualized basis, the current yield is approximately 6.62%, which compares to an average yield of 5.67% in the "Financial" preferred stock category, according to Preferred Stock Channel.

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As of last close, PRE.PRE was trading at a 9.56% premium to its liquidation preference amount, versus the average premium of 0.61% in the "Financial" category. The chart below shows the one year performance of PRE.PRE shares, versus PRE:

Performance Comparison Chart

Below is a dividend history chart for PRE.PRE, showing historical dividends prior to the most recent $0.4531 on PartnerRe Ltd.'s 7.25% Series E Cumulative Redeemable Preferred Shares:

PRE.PRE+Dividend+History+Chart

According to the ETF Finder at ETF Channel, PartnerRe Ltd. ( PRE) makes up 2.93% of the Guggenheim Canadian Energy Income ETF (ENY) which is trading relatively unchanged on the day Monday.

In Monday trading, PartnerRe Ltd.'s 7.25% Series E Cumulative Redeemable Preferred Shares ( PRE.PRE) is currently up about 0.6% on the day, while the common shares ( PRE) are trading flat.

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