Cash Dividend On The Way From Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock

On 9/27/13, Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock ( RSO.PRB) will trade ex-dividend, for its quarterly dividend of $0.5156, payable on 10/30/13. As a percentage of RSO.PRB's recent share price of $23.55, this dividend works out to approximately 2.19%, so look for shares of RSO.PRB to trade 2.19% lower — all else being equal — when RSO.PRB shares open for trading on 9/27/13. On an annualized basis, the current yield is approximately 8.75%, which compares to an average yield of 7.50% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

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As of last close, RSO.PRB was trading at a 5.64% discount to its liquidation preference amount. The chart below shows the one year performance of RSO.PRB shares, versus RSO:

Performance Comparison Chart

Below is a dividend history chart for RSO.PRB, showing historical dividends prior to the most recent $0.5156 on Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock :

RSO.PRB+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Resource Capital Corp ( RSO) makes up 1.78% of the Mortgage REIT Income ETF (MORT) which is trading relatively unchanged on the day Wednesday.

In Wednesday trading, Resource Capital Corp's 8.25% Series B Cumulative Redeemable Preferred Stock ( RSO.PRB) is currently down about 0.2% on the day, while the common shares ( RSO) are trading flat.

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