On 9/11/14, Aspen Insurance Holdings Ltd's 7.250% Perpetual Non-Cumulative Preference Shares (NYSE: AHL.PRB) will trade ex-dividend, for its quarterly dividend of $0.4531, payable on 10/1/14. As a percentage of AHL.PRB's recent share price of $26.24, this dividend works out to approximately 1.73%, so look for shares of AHL.PRB to trade 1.73% lower — all else being equal — when AHL.PRB shares open for trading on 9/11/14. On an annualized basis, the current yield is approximately 6.85%, which compares to an average yield of 5.75% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, AHL.PRB was trading at a 5.84% 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 AHL.PRB shares, versus AHL:
Below is a dividend history chart for AHL.PRB, showing historical dividends prior to the most recent $0.4531 on Aspen Insurance Holdings Ltd's 7.250% Perpetual Non-Cumulative Preference Shares :
According to the ETF Finder at ETFChannel.com, Aspen Insurance Holdings Ltd (NYSE: AHL) makes up 1.93% of the SPDR S&P Mortgage Finance ETF (KME) which is trading relatively unchanged on the day Tuesday.
In Tuesday trading, Aspen Insurance Holdings Ltd's 7.250% Perpetual Non-Cumulative Preference Shares (NYSE: AHL.PRB) is currently off about 0.8% on the day, while the common shares (NYSE: AHL) are off about 0.7%.
