On 11/13/13, TCF Financial Corp.'s 6.45% Series B Non-Cumulative Perpetual Preferred Stock (TCB.PRC) will trade ex-dividend, for its quarterly dividend of $0.4031, payable on 12/2/13. As a percentage of TCB.PRC's recent share price of $22.61, this dividend works out to approximately 1.78%, so look for shares of TCB.PRC to trade 1.78% lower — all else being equal — when TCB.PRC shares open for trading on 11/13/13. On an annualized basis, the current yield is approximately 7.17%, which compares to an average yield of 5.84% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Ex-Div Reminder For TCF Financial Corp.'s 6.45% Series B Non-Cumulative Perpetual Preferred Stock
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