On 1/22/14, Goldman Sachs Group Incorporated's Floating Rate Non-Cumulative Preferred Stock, Series C (GS.PRC) will trade ex-dividend, for its quarterly dividend of $0.25, payable on 2/10/14. As a percentage of GS.PRC's recent share price of $19.90, this dividend works out to approximately 1.26%, so look for shares of GS.PRC to trade 1.26% lower — all else being equal — when GS.PRC shares open for trading on 1/22/14. On an annualized basis, the current yield is approximately 5.02%, which compares to an average yield of 5.80% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, GS.PRC was trading at a 20.20% 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.PRC shares, versus GS:
Below is a dividend history chart for GS.PRC, showing historical dividends prior to the most recent $0.25 on Goldman Sachs Group Incorporated's Floating Rate Non-Cumulative Preferred Stock, Series C :
According to the ETF Finder at ETF Channel, Goldman Sachs Group Incorporated (GS) makes up 7.73% of the iShares U.S. Broker-Dealers ETF (IAI) which is trading relatively unchanged on the day Tuesday.