On 3/27/14, U.S. Bancorp's Preferred Stock (USB.PRA) will trade ex-dividend, for its quarterly dividend of $8.75, payable on 4/15/14. As a percentage of USB.PRA's recent share price of $820.00, this dividend works out to approximately 1.07%, so look for shares of USB.PRA to trade 1.07% lower — all else being equal — when USB.PRA shares open for trading on 3/27/14. On an annualized basis, the current yield is approximately 4.27%, which compares to an average yield of 5.70% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, USB.PRA was trading at a 17.99% 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 USB.PRA shares, versus USB:
Below is a dividend history chart for USB.PRA, showing historical dividends prior to the most recent $8.75 on U.S. Bancorp's Preferred Stock:
According to the ETF Finder at ETF Channel, U.S. Bancorp (USB) makes up 19.81% of the iShares U.S. Regional Banks ETF (IAT) which is trading relatively unchanged on the day Tuesday.