On 12/11/13, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B ( OFG.PRB) will trade ex-dividend, for its monthly dividend of $0.1458, payable on 12/31/13. As a percentage of OFG.PRB's recent share price of $22.03, this dividend works out to approximately 0.66%, so look for shares of OFG.PRB to trade 0.66% lower — all else being equal — when OFG.PRB shares open for trading on 12/11/13. On an annualized basis, the current yield is approximately 7.94%, which compares to an average yield of 6.04% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, OFG.PRB was trading at a 11.88% discount to its liquidation preference amount. 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.PRB shares, versus OFG: Below is a dividend history chart for OFG.PRB, showing historical dividends prior to the most recent $0.1458 on OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B : In Monday trading, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B ( OFG.PRB) is currently trading flat on the day, while the common shares ( OFG) are down about 0.4%.