Lexington Realty Trust's 6.50% Series C Cumulative Convertible Preferred Stock Goes Ex-Dividend Soon

On 7/29/14, Lexington Realty Trust’s 6.50% Series C Cumulative Convertible Preferred Stock (NYSE: LXP.PRC) will trade ex-dividend, for its quarterly dividend of $0.8125, payable on 8/15/14. As a percentage of LXP.PRC’s recent share price of $49.40, this dividend works out to approximately 1.64%, so look for shares of LXP.PRC to trade 1.64% lower — all else being equal — when LXP.PRC shares open for trading on 7/29/14. On an annualized basis, the current yield is approximately 6.59%, which compares to an average yield of 6.82% in the “Real Estate” preferred stock category, according to Preferred Stock Channel.
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Source: Markets