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| DCP Midstream LP's 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units About To Put More Money In Your PocketBy Preferred Stock Channel Staff, Monday, March 29, 1:34 PM ET
On 3/31/21, DCP Midstream LP's 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (DCP.PRC) will trade ex-dividend, for its quarterly dividend of $0.4969, payable on 4/15/21. As a percentage of DCP.PRC's recent share price of $24.55, this dividend works out to approximately 2.02%, so look for shares of DCP.PRC to trade 2.02% lower — all else being equal — when DCP.PRC shares open for trading on 3/31/21. On an annualized basis, the current yield is approximately 8.20%, which compares to an average yield of 8.30% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, DCP.PRC was trading at a 3.04% discount to its liquidation preference amount. The chart below shows the one year performance of DCP.PRC shares, versus DCP:
Below is a dividend history chart for DCP.PRC, showing historical dividends prior to the most recent $0.4969 on DCP Midstream LP's 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units: Free Report: Top 7%+ Dividends (paid monthly)
In Monday trading, DCP Midstream LP's 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (DCP.PRC) is currently up about 1.3% on the day, while the common shares (DCP) are off about 0.3%.
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