On 4/28/14, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series E (BAC.PRE) will trade ex-dividend, for its quarterly dividend of $0.2472, payable on 5/15/14. As a percentage of BAC.PRE's recent share price of $22.15, this dividend works out to approximately 1.12%, so look for shares of BAC.PRE to trade 1.12% lower — all else being equal — when BAC.PRE shares open for trading on 4/28/14. On an annualized basis, the current yield is approximately 4.46%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Cash Dividend On The Way From Bank of America Floating Rate Non-Cumulative Preferred Stock, Series E
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