Jeff purchased some Mitel preferred shares on the Toronto Stock Exchange for $13.50. The shares pay a quarterly dividend of $0.50. Nine months later the shares were trading at $15.25. What was Jeff's rate of total return for the 9-month period?

Total Return

The overall return on an investment over a specific period, including both capital gains and income, such as dividends or interest.

Quarterly Dividend

A distribution of a portion of a company's earnings, decided by the board of directors, paid to shareholders every quarter.

Preferred Shares

Types of stock that provide dividends before dividends are distributed to common stockholders and typically do not provide voting rights.