Ex-Div Reminder for Clarivate Series A Mandatory Convertible Preferred Shares Due 6/1/2024

By Preferred Stock Channel Staff, Monday, February 12, 1:33 PM ET

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On 2/14/24, Clarivate plc's 5.25% Series A Mandatory Convertible Preferred Shares Due 6/1/2024 (NYSE:CLVT.PRA) will trade ex-dividend, for its quarterly dividend of $1.3125, payable on 3/1/24. As a percentage of CLVT.PRA's recent share price of $39.40, this dividend works out to approximately 3.33%, so look for shares of CLVT.PRA to trade 3.33% lower — all else being equal — when CLVT.PRA shares open for trading on 2/14/24. On an annualized basis, the current yield is approximately 13.48%, which compares to an average yield of 18.66% in the "Business Services & Equipment" preferred stock category, according to Preferred Stock Channel.

As of last close, CLVT.PRA was trading at a 61.05% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 3.02052 - 3.8462. The chart below shows the one year performance of CLVT.PRA shares, versus CLVT:

Performance Comparison Chart

Below is a dividend history chart for CLVT.PRA, showing historical dividends prior to the most recent $1.3125 on Clarivate plc's 5.25% Series A Mandatory Convertible Preferred Shares Due 6/1/2024:

Free Report: Top 8%+ Dividends (paid monthly)

In Monday trading, Clarivate plc's 5.25% Series A Mandatory Convertible Preferred Shares Due 6/1/2024 (NYSE:CLVT.PRA) is currently up about 1.2% on the day, while the common shares (NYSE:CLVT) are up about 1.6%.

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Ex-Div Reminder for Clarivate Series A Mandatory Convertible Preferred Shares Due 6/1/2024

Ex-Div Reminder for Clarivate Series A Mandatory Convertible Preferred Shares Due 6/1/2024 | www.PreferredStockChannel.com