On 12/11/14, Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock (NYSE: TCO.PRJ) will trade ex-dividend, for its quarterly dividend of $0.4062, payable on 12/31/14. As a percentage of TCO.PRJ's recent share price of $25.81, this dividend works out to approximately 1.57%, so look for shares of TCO.PRJ to trade 1.57% lower — all else being equal — when TCO.PRJ shares open for trading on 12/11/14. On an annualized basis, the current yield is approximately 6.30%, which compares to an average yield of 6.89% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
As of last close, TCO.PRJ was trading at a 3.20% premium to its liquidation preference amount, versus the average premium of 2.24% in the "Real Estate" category.
The chart below shows the one year performance of TCO.PRJ shares, versus TCO:
Below is a dividend history chart for TCO.PRJ, showing historical dividends prior to the most recent $0.4062 on Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock :
According to the ETF Finder at ETFChannel.com, Taubman Centers, Inc. (NYSE: TCO) makes up 1.40% of the PowerShares S&P MidCap Low Volatility Portfolio ETF (XMLV) which is trading up by about 0.1% on the day Tuesday.
In Tuesday trading, Taubman Centers, Inc.'s 6.500% Series J Cumulative Redeemable Preferred Stock (NYSE: TCO.PRJ) is currently trading flat on the day, while the common shares (NYSE: TCO) are off about 0.1%.
