On 2/12/14, 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 3/3/14. As a percentage of TCB.PRC's recent share price of $23.60, this dividend works out to approximately 1.71%, so look for shares of TCB.PRC to trade 1.71% lower — all else being equal — when TCB.PRC shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 6.83%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.
TCF Financial Corp.'s 6.45% Series B Non-Cumulative Perpetual Preferred Stock Ex-Dividend Reminder - 2/12/14
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