On 6/27/14, Bank of America Corp.'s 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (BAC.PRL) will trade ex-dividend, for its quarterly dividend of $18.125, payable on 7/30/14. As a percentage of BAC.PRL's recent share price of $1191.00, this dividend works out to approximately 1.52%, so look for shares of BAC.PRL to trade 1.52% lower — all else being equal — when BAC.PRL shares open for trading on 6/27/14. On an annualized basis, the current yield is approximately 6.12%, which compares to an average yield of 5.52% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Bank of America Non-Cumulative Perpetual Convertible Preferred Stock, Series L Goes Ex-Dividend Soon
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