On 10/24/13, 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 11/12/13. As a percentage of GS.PRB's recent share price of $24.91, this dividend works out to approximately 1.56%, so look for shares of GS.PRB to trade 1.56% lower — all else being equal — when GS.PRB shares open for trading on 10/24/13. On an annualized basis, the current yield is approximately 6.27%, which compares to an average yield of 5.98% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, GS.PRB was trading at a 1.04% discount to its liquidation preference amount. 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 7.70% of the KBW Capital Markets Portfolio ETF (KBWC) which is trading lower by about 0.2% on the day Tuesday.