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Ex-Div Reminder for Sun Life Financial's Preferred Shares Series 2

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On 2/23/15, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2 (Toronto: SLF-PRB) will trade ex-dividend, for its quarterly dividend of $0.30, payable on 3/31/15. As a percentage of SLF.PRB's recent share price of $25.18, this dividend works out to approximately 1.19%, so look for shares of SLF.PRB to trade 1.19% lower — all else being equal — when SLF.PRB shares open for trading on 2/23/15. On an annualized basis, the current yield is approximately 4.77%.

Click here to find out which 9 other Canadian stocks going ex-dividend you should know about, at DividendChannel.com »

As of last close, SLF.PRB was trading at a 0.80% premium 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 SLF.PRB shares, versus SLF:

Below is a dividend history chart for SLF.PRB, showing historical dividends prior to the most recent $0.30 on Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2:

In Thursday trading, Sun Life Financial Inc's Class A Non-Cumulative Preferred Shares Series 2 (Toronto: SLF-PRB) is currently off about 0.1% on the day, while the common shares (Toronto: SLF) are up about 0.1%.