On Thursday, Fortis Inc’s Cumulative Redeemable Five Year Fixed Rate Reset First Preference Shares, Series H (TSX: FTS-PRH.TO) surpassed a 3% yield based on its quarterly dividend, which is annualized at $0.4588. The shares were traded as low as $15.25 during the day. Recently, FTS.PRH was priced at a significant 38.32% discount to its liquidation preference amount. Notably, these preferred shares are convertible.
The chart below illustrates the one-year performance of FTS.PRH shares compared to FTS:
Below is the dividend history for FTS.PRH, which details historical payments related to Fortis Inc’s Cumulative Redeemable Five Year Fixed Rate Reset First Preference Shares, Series H:
During Thursday’s trading, Fortis Inc’s preferred shares slipped approximately 1.1% for the day, whereas the company’s common shares (TSX: FTS.TO) experienced a slight gain of about 0.7%.
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