On 2/12/14, Discover Financial Services's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (DFS.PRB) will trade ex-dividend, for its quarterly dividend of $0.4062, payable on 3/3/14. As a percentage of DFS.PRB's recent share price of $23.95, this dividend works out to approximately 1.70%, so look for shares of DFS.PRB to trade 1.70% lower — all else being equal — when DFS.PRB shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 6.79%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Cash Dividend On The Way From Discover Financial Services Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B
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