On 2/12/14, PNC Financial Services Group's 5.375% Non-Cumulative Perpetual Preferred Stock, Series Q (PNC.PRQ) will trade ex-dividend, for its quarterly dividend of $0.3359, payable on 3/1/14. As a percentage of PNC.PRQ's recent share price of $20.97, this dividend works out to approximately 1.60%, so look for shares of PNC.PRQ to trade 1.60% lower — all else being equal — when PNC.PRQ shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 6.42%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, PNC.PRQ was trading at a 16.28% 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 PNC.PRQ shares, versus PNC:
Below is a dividend history chart for PNC.PRQ, showing historical dividends prior to the most recent $0.3359 on PNC Financial Services Group's 5.375% Non-Cumulative Perpetual Preferred Stock, Series Q :
According to the ETF Finder at ETF Channel, PNC Financial Services Group (PNC) makes up 11.61% of the iShares U.S. Regional Banks ETF (IAT) which is trading relatively unchanged on the day Monday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV