On 9/29/14, DDR Corp.'s 6.250% Class K Cumulative Redeemable Preferred Shares (DDR.PRK) will trade ex-dividend, for its quarterly dividend of $0.3906, payable on 10/15/14. As a percentage of DDR.PRK's recent share price of $24.80, this dividend works out to approximately 1.58%, so look for shares of DDR.PRK to trade 1.58% lower — all else being equal — when DDR.PRK shares open for trading on 9/29/14. On an annualized basis, the current yield is approximately 6.31%, which compares to an average yield of 6.96% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
As of last close, DDR.PRK was trading at a 0.88% discount to its liquidation preference amount, versus the average premium of 1.06% in the "Real Estate" category. The chart below shows the one year performance of DDR.PRK shares, versus DDR:
