On 2/28/18, Banc Of California Inc's 7.000% Non-Cumulative Perpetual Preferred Stock, Series E (BANC.PRE) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 3/15/18. As a percentage of BANC.PRE's recent share price of $26.38, this dividend works out to approximately 1.66%, so look for shares of BANC.PRE to trade 1.66% lower — all else being equal — when BANC.PRE shares open for trading on 2/28/18. On an annualized basis, the current yield is approximately 6.63%, which compares to an average yield of 5.59% in the "Financial" preferred stock category, according to Preferred Stock Channel.
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »
As of last close, BANC.PRE was trading at a 5.60% premium to its liquidation preference amount, versus the average premium of 4.33% in the "Financial" category. 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 BANC.PRE shares, versus BANC:
Below is a dividend history chart for BANC.PRE, showing historical dividends prior to the most recent $0.4375 on Banc Of California Inc's 7.000% Non-Cumulative Perpetual Preferred Stock, Series E:
In Monday trading, Banc Of California Inc's 7.000% Non-Cumulative Perpetual Preferred Stock, Series E (BANC.PRE) is currently off about 0.1% on the day, while the common shares (BANC) - Get Report are trading flat.