TransCanada's Preferred Series 7 Shares Cross 5.5% Yield Mark

In trading on Tuesday, shares of TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 7 (Toronto: TRP-PRD) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.00), with shares changing hands as low as $17.95 on the day. As of last close, TRP.PRD was trading at a 27.00% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible.

The chart below shows the one year performance of TRP.PRD shares, versus TRP:

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Below is a dividend history chart for TRP.PRD, showing historical dividend payments on TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 7:

In Tuesday trading, TransCanada Corp's Cumulative Redeemable First Preferred Shares, Series 7 (Toronto: TRP-PRD) is currently off about 1.6% on the day, while the common shares (Toronto: TRP) are off about 1.3%.