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Ex-Div Reminder for Washington Prime Group's 6.875% Series I Cumulative Redeemable Preferred Shares

By Preferred Stock Channel Staff, Tuesday, June 25, 1:35 PM ET
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On 6/27/19, Washington Prime Group's 6.875% Series I Cumulative Redeemable Preferred Shares (NYSE:WPG.PRI) will trade ex-dividend, for its quarterly dividend of $0.4297, payable on 7/15/19. As a percentage of WPG.PRI's recent share price of $18.70, this dividend works out to approximately 2.30%, so look for shares of WPG.PRI to trade 2.30% lower — all else being equal — when WPG.PRI shares open for trading on 6/27/19. On an annualized basis, the current yield is approximately 9.19%, which compares to an average yield of 6.67% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

As of last close, WPG.PRI was trading at a 25.20% discount to its liquidation preference amount, versus the average premium of 37.43% in the "Real Estate" category. The chart below shows the one year performance of WPG.PRI shares, versus WPG:

Performance Comparison Chart

Below is a dividend history chart for WPG.PRI, showing historical dividends prior to the most recent $0.4297 on Washington Prime Group's 6.875% Series I Cumulative Redeemable Preferred Shares:


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In Tuesday trading, Washington Prime Group's 6.875% Series I Cumulative Redeemable Preferred Shares (NYSE:WPG.PRI) is currently trading flat on the day, while the common shares (NYSE:WPG) are off about 2.7%.


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