On Thursday, Enstar Group Ltd’s 7.00% Dep Shares Non-Cumul Fixed/Float Series D Perpetual Preferred Shares (Symbol: ESGRP) saw their yield surpass 8.5%. This impressive yield is based on a quarterly dividend, which annualizes to $1.75. During trading, shares dipped to as low as $20.39.
Current Market Performance Compared to Industry Averages
This yield stands in contrast to the average rate of 8.12% in the “Insurance Brokers” preferred stock category, as reported by Preferred Stock Channel. Furthermore, ESGRP shares are currently trading at a notable 15.64% discount to their liquidation preference amount. In comparison, the average discount within the “Insurance Brokers” sector is 10.07%.
It’s important for investors to note that these shares are classified as non-cumulative. This means that if a dividend payment is missed, Enstar Group is not required to pay the missed amounts to preferred shareholders before making payments to common shareholders.
The chart below illustrates the one-year performance of ESGRP shares against those of ESGR:
Dividend Payment History
The dividend history chart for ESGRP reveals the trends in dividend payments for Enstar Group Ltd’s 7.00% Dep Shares Non-Cumul Fixed/Float Series D:
Free Report: Top 8%+ Dividends (paid monthly)
During Thursday’s trading session, Enstar Group Ltd’s preferred shares (ESGRP) were down approximately 1.6%, while the common shares (Symbol: ESGR) experienced a slight increase of about 0.2%.
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