PowerShares Preferred Portfolio(ETF) (PGX) to Issue Monthly Dividend of $0.07

PowerShares Preferred Portfolio(ETF) (NYSEARCA:PGX) declared a monthly dividend on Tuesday, February 20th, Wall Street Journal reports. Investors of record on Wednesday, February 21st will be given a dividend of 0.0694 per share on Wednesday, February 28th. This represents a $0.83 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Tuesday, February 20th. This is an increase from PowerShares Preferred Portfolio(ETF)’s previous monthly dividend of $0.07.

Shares of PowerShares Preferred Portfoli (NYSEARCA:PGX) traded up $0.03 on Tuesday, reaching $14.37. The company’s stock had a trading volume of 1,194,734 shares, compared to its average volume of 3,051,983. PowerShares Preferred Portfoli has a 1-year low of $14.10 and a 1-year high of $15.20.

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About PowerShares Preferred Portfolio(ETF)

The PowerShares Preferred Portfolio (Fund) is based on The BofA Merrill Lynch Core Fixed Rate Preferred Securities Index (Index). The Fund normally invest at least 90% of its total assets in securities that comprise the Index. The Index is designed to replicate the total return of a diversified group of investment-grade preferred securities.

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