Great-West Lifeco's Preferred Shares, Series G, Cross 6% Yield Mark

In trading on Monday, shares of Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series G (TSX: GWO-PRG.TO) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.30), with shares changing hands as low as $21.65 on the day. As of last close, GWO.PRG was trading at a 13.08% discount to its liquidation preference amount. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of GWO.PRG shares, versus GWO:

Below is a dividend history chart for GWO.PRG, showing historical dividend payments on Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series G:

In Monday trading, Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series G (TSX: GWO-PRG.TO) is currently off about 0.4% on the day, while the common shares (TSX: GWO.TO) are down about 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.