PowerShares Fin. Preferred Port. (PGF) Declares Dividend Increase – $0.09 Per Share
PowerShares Fin. Preferred Port. (NYSEARCA:PGF) announced a monthly dividend on Monday, December 18th, Wall Street Journal reports. Investors of record on Tuesday, December 19th will be given a dividend of 0.088 per share by the exchange traded fund on Friday, December 29th. This represents a $1.06 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend is Monday, December 18th. This is a positive change from PowerShares Fin. Preferred Port.’s previous monthly dividend of $0.08.
Shares of PowerShares Fin. Preferred Port. (PGF) opened at $18.92 on Tuesday. PowerShares Fin. Preferred Port. has a 52 week low of $17.78 and a 52 week high of $19.17.
Several research firms recently issued reports on PGF. Royal Bank of Canada reissued a “hold” rating on shares of PowerShares Fin. Preferred Port. in a research note on Monday, September 18th. Canaccord Genuity reissued a “sell” rating on shares of PowerShares Fin. Preferred Port. in a research note on Thursday, October 19th.
PowerShares Financial Preferred Portfolio (the Fund) is a non-diversified fund. The Fund is based on the Wells Fargo Hybrid and Preferred Financial Index (WHPSF Financial Index) (the Index). The Index tracks the performance of the United States-listed securities issued by financial institutions. The Index is rebalanced monthly.
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