PowerShares Fin. Preferred Port. (PGF) Plans Monthly Dividend of $0.08

PowerShares Fin. Preferred Port. (NYSEARCA:PGF) announced a monthly dividend on Monday, January 22nd, Wall Street Journal reports. Investors of record on Tuesday, January 23rd will be paid a dividend of 0.08 per share by the exchange traded fund on Wednesday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Monday, January 22nd.

PowerShares Fin. Preferred Port. (NYSEARCA:PGF) traded down $0.03 during mid-day trading on Wednesday, reaching $18.30. The company’s stock had a trading volume of 326,304 shares, compared to its average volume of 522,281. The company has a market capitalization of $1,610.00 and a price-to-earnings ratio of 12.14. PowerShares Fin. Preferred Port. has a 52-week low of $18.01 and a 52-week high of $19.17.

Several research analysts have weighed in on the company. Canaccord Genuity reiterated a “sell” rating and set a $1.00 target price on shares of PowerShares Fin. Preferred Port. in a report on Thursday, January 18th. AltaCorp Capital restated a “hold” rating and issued a $1.15 price target on shares of PowerShares Fin. Preferred Port. in a report on Tuesday, January 16th. Finally, Royal Bank of Canada restated a “hold” rating on shares of PowerShares Fin. Preferred Port. in a report on Monday, October 23rd.

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PowerShares Fin. Preferred Port. Company Profile

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.

Dividend History for PowerShares Fin. Preferred Port. (NYSEARCA:PGF)

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