On 7/24/13, Goldman Sachs Group Incorporated's 6.20% Non-Cumulative Preferred Stock, Series B (GS.PRB) will trade ex-dividend, for its quarterly dividend of $0.3875, payable on 8/12/13. As a percentage of GS.PRB's recent share price of $25.10, this dividend works out to approximately 1.54%, so look for shares of GS.PRB to trade 1.54% lower — all else being equal — when GS.PRB shares open for trading on 7/24/13. On an annualized basis, the current yield is approximately 6.17%, which compares to an average yield of 5.17% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, GS.PRB was trading at a 0.52% premium to its liquidation preference amount, versus the average premium of 1.14% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of GS.PRB shares, versus GS:
Below is a dividend history chart for GS.PRB, showing historical dividends prior to the most recent $0.3875 on Goldman Sachs Group Incorporated's 6.20% Non-Cumulative Preferred Stock, Series B :
According to the ETF Finder at ETF Channel, Goldman Sachs Group Incorporated (GS) makes up 8.32% of the KBW Capital Markets Portfolio ETF (KBWC) which is trading higher by about 0.1% on the day Monday.