On 2/26/14, Bank of America Corp.'s 6.204% Non-Cumulative Preferred Stock, Series D (BAC.PRD) will trade ex-dividend, for its quarterly dividend of $0.3877, payable on 3/14/14. As a percentage of BAC.PRD's recent share price of $24.97, this dividend works out to approximately 1.55%, so look for shares of BAC.PRD to trade 1.55% lower — all else being equal — when BAC.PRD shares open for trading on 2/26/14. On an annualized basis, the current yield is approximately 6.23%, which compares to an average yield of 5.76% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Ex-Div Reminder for Bank of America Non-Cumulative Preferred Stock, Series D
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