On 4/23/14, Goldman Sachs Group Incorporated's 6.20% Non-Cumulative Preferred Stock, Series B (GS.PRB) will trade ex-dividend, for its quarterly dividend of $0.3875, payable on 5/12/14. As a percentage of GS.PRB's recent share price of $24.91, this dividend works out to approximately 1.56%, so look for shares of GS.PRB to trade 1.56% lower — all else being equal — when GS.PRB shares open for trading on 4/23/14. On an annualized basis, the current yield is approximately 6.22%, which compares to an average yield of 5.76% in the "Financial" preferred stock category, according to Preferred Stock Channel.
As of last close, GS.PRB was trading at a 0.20% 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 GS.PRB shares, versus GS:
Below is a dividend history chart for GS.PRB, showing historical dividends prior to the most recent $0.3875 on Goldman Sachs Group Incorporated's 6.20% Non-Cumulative Preferred Stock, Series B :
According to the ETF Finder at ETF Channel, Goldman Sachs Group Incorporated (GS) makes up 6.66% of the iShares U.S. Broker-Dealers ETF (IAI) which is trading up by about 0.2% on the day Monday.