PowerShares High Yld. Dividend Achv(ETF) (NASDAQ:PEY) announced a monthly dividend on Monday, January 22nd, Wall Street Journal reports. Stockholders of record on Tuesday, January 23rd will be given a dividend of 0.0451 per share on Wednesday, January 31st. This represents a $0.54 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, January 22nd.
Shares of PowerShares High Yld. Dividend Ach (NASDAQ PEY) traded up $0.12 during midday trading on Monday, reaching $18.41. 61,100 shares of the company were exchanged, compared to its average volume of 198,277. PowerShares High Yld. Dividend Ach has a 1 year low of $16.45 and a 1 year high of $18.42. The firm has a market capitalization of $939.51, a price-to-earnings ratio of 11.65 and a beta of 0.84.
Separately, AltaCorp Capital restated a “buy” rating and set a $16.50 target price on shares of PowerShares High Yld. Dividend Achv(ETF) in a research report on Monday, January 15th.
PowerShares High Yield Equity Dividend Achiever Portfolio (the Fund) is based on the Mergent Dividend Achiever 50 Index (the Index). The Fund focuses to invest at least 90% of its total assets in dividend paying common stocks, which comprise the Index. The Index is comprised of 50 stocks selected principally on the basis of dividend yield and consistent growth in dividends.
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