E-L Financial’s Preferred Shares Yielding Over 6%: A Closer Look

Dividend Insights on E-L Financial’s 4.75% Non-Cumulative Redeemable Shares

On Monday, trading revealed that E-L Financial’s 4.75% Non-Cumulative Redeemable First Preference Shares, Series 2 (TSX: ELF-PRG.TO) were yielding above 6%. This yield is based on a quarterly dividend that annualizes to $1.1875. Shares dipped to as low as $19.64 during the trading day. At the last close, ELF.PRG was trading at a significant 20.68% discount to its liquidation preference amount. Investors should be aware that these preferred shares are convertible but are not cumulative. This means if a payment is missed, E-L Financial does not need to make up the missed dividends before paying dividends on common shares.

The chart below outlines the one-year performance of ELF.PRG shares in comparison to common shares of E-L Financial (ELF):

Additionally, here is a dividend history chart for ELF.PRG, detailing historical dividend payments:

In the trading session on Monday, E-L Financial’s 4.75% Non-Cumulative Redeemable First Preference Shares, Series 2 showed a decline of approximately 0.9%. Conversely, the company’s common shares (TSX: ELF.TO) fell by about 0.7%.

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Also see:

• ETF Fund Flows
• Institutional Holders of ATHE
• ALBO Split History

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