Investors will receive 1/12th of the 8.5% annualized amount, or approximately $0.177083 per share, based on the $25.00 per share liquidation preference. The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on July 15.
Evolution's Series A preferred stock trades on the NYSE MKT (previously known as the Amex, or American Stock Exchange) under the symbol EPM.PR.A. However, since the securities have no stated maturity date, investors seeking liquidity will be limited to selling their shares in the secondary market and an active trading market for the shares may not develop for them.
Evolution Petroleum does not pay a dividend on its regular common shares.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.