NGL Energy Partners LP’s 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (NGL.PRC) will trade ex-dividend on April 1, 2026, for a quarterly dividend of $0.6903, payable on April 15, 2026. This dividend represents approximately 2.72% of the recent share price of $25.37, suggesting a potential decrease in share price by the same percentage when trading resumes.
The current yield of NGL.PRC is notably low at around 0%, especially when compared to the average yield of 6.33% in the Oil & Gas Equipment & Services preferred stock sector. This disparity may impact investor sentiment and trading strategies, particularly for those focused on income generation from preferred shares.
Market participants should be aware of the upcoming dividend and its implications on NGL.PRC’s price action. Given the significant yield gap, investors may reassess their positions in NGL.PRC relative to other options in the preferred stock market.
Source: nasdaq.com