On 7/11/13, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A ( OFG.PRA) will trade ex-dividend, for its monthly dividend of $0.1484, payable on 7/31/13. As a percentage of OFG.PRA's recent share price of $25.12, this dividend works out to approximately 0.59%, so look for shares of OFG.PRA to trade 0.59% lower — all else being equal — when OFG.PRA shares open for trading on 7/11/13. On an annualized basis, the current yield is approximately 7.09%, which compares to an average yield of 5.14% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, OFG.PRA was trading at a 0.48% premium to its liquidation preference amount, versus the average premium of 0.39% 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 OFG.PRA shares, versus OFG: Below is a dividend history chart for OFG.PRA, showing historical dividends prior to the most recent $0.1484 on OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A: In Tuesday trading, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A ( OFG.PRA) is currently trading flat on the day, while the common shares ( OFG) are up about 0.2%.