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Cohen and Steers Limited Duration Preferred and Income Fund (LDP) has 2 splits in our LDP split history database. The first split for LDP took place on March 27, 2000. This was a 4 for 1 split, meaning for each share of LDP owned pre-split, the shareholder now owned 4 shares. For example, a 1000 share position pre-split, became a 4000 share position following the split. LDP's second split took place on June 24, 2002. This was a 1 for 10 reverse split, meaning for each 10 shares of LDP owned pre-split, the shareholder now owned 1 share. For example, a 4000 share position pre-split, became a 400 share position following the split.
When a company such as Cohen and Steers Limited Duration Preferred and Income Fund splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Cohen and Steers Limited Duration Preferred and Income Fund conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the LDP split history from start to finish, an original position size of 1000 shares would have turned into 400 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Cohen and Steers Limited Duration Preferred and Income Fund shares, starting with a $10,000 purchase of LDP, presented on a split-history-adjusted basis factoring in the complete LDP split history.
Growth of $10,000.00 With Dividends Reinvested |
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Start date: | 12/16/2014 | ||
End date: | 12/13/2024 | ||
Start price/share: | $23.15 | ||
End price/share: | $20.85 | ||
Starting shares: | 431.97 | ||
Ending shares: | 960.72 | ||
Dividends reinvested/share: | $18.49 | ||
Total return: | 100.31% | ||
Average Annual Total Return: | 7.19% | ||
Starting investment: | $10,000.00 | ||
Ending investment: | $20,023.63 | ||
Years: | 10.00 | ||
Growth of $10,000.00 Without Dividends Reinvested |
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Start date: | 12/16/2014 | ||
End date: | 12/13/2024 | ||
Start price/share: | $23.15 | ||
End price/share: | $20.85 | ||
Dividends collected/share: | $18.49 | ||
Total return: | 69.95% | ||
Average Annual Total Return: | 5.45% | ||
Starting investment: | $10,000.00 | ||
Ending investment: | $17,000.66 | ||
Years: | 10.00 |
About Cohen and Steers Limited Duration Preferred and Income Fund |
Cohen & Steers Low Duration Preferred Income Fund is registered as a diversified, closed-end management investment company. The Fund's investment objective is high current income. According to our LDP split history records, Cohen and Steers Limited Duration Preferred and Income Fund has had 2 splits. |
LDP Split History Table | |
Date | Ratio |
03/27/2000 | 4 for 1 |
06/24/2002 | 1 for 10 |
Financials Stock Splits |
LDP is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:
LFC Split History
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