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Hartford Financial Services Group Non-Cumulative Preferred Stock, Series G About To Put More Money In Your Pocket

By Preferred Stock Channel Staff, Wednesday, October 27, 1:32 PM ET
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On 10/29/21, Hartford Financial Services Group Inc.'s 6.000% Non-Cumulative Preferred Stock, Series G (NYSE:HIG.PRG) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 11/15/21. As a percentage of HIG.PRG's recent share price of $28.10, this dividend works out to approximately 1.33%, so look for shares of HIG.PRG to trade 1.33% lower — all else being equal — when HIG.PRG shares open for trading on 10/29/21. On an annualized basis, the current yield is approximately 5.34%, which compares to an average yield of 5.22% in the "Financial" preferred stock category, according to Preferred Stock Channel.

As of last close, HIG.PRG was trading at a 12.44% premium to its liquidation preference amount, versus the average premium of 7.01% in the "Financial" category. 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 HIG.PRG shares, versus HIG:

Performance Comparison Chart

Below is a dividend history chart for HIG.PRG, showing historical dividends prior to the most recent $0.375 on Hartford Financial Services Group Inc.'s 6.000% Non-Cumulative Preferred Stock, Series G :


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In Wednesday trading, Hartford Financial Services Group Inc.'s 6.000% Non-Cumulative Preferred Stock, Series G (NYSE:HIG.PRG) is currently trading flat on the day, while the common shares (NYSE:HIG) are up about 0.4%.


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