On 10/4/13, Toronto Dominion Bank's Non-Cumulative 5-Year Rate Reset Preferred Shares, Series AG (TSX: TD-PRG.TO) will trade ex-dividend, for its quarterly dividend of $0.3906, payable on 10/31/13. As a percentage of TD.PRG's recent share price of $25.81, this dividend works out to approximately 1.51%, so look for shares of TD.PRG to trade 1.51% lower — all else being equal — when TD.PRG shares open for trading on 10/4/13. On an annualized basis, the current yield is approximately 6.05%.As of last close, TD.PRG was trading at a 3.36% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible. The chart below shows the one year performance of TD.PRG shares, versus TD:
Toronto Dominion Bank's Non-Cumulative 5-Year Rate Reset Preferred Shares, Series AG About To Put More Money In Your Pocket
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