On 2/12/14, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 (BML.PRG) will trade ex-dividend, for its quarterly dividend of $0.1875, payable on 2/28/14. As a percentage of BML.PRG's recent share price of $17.92, this dividend works out to approximately 1.05%, so look for shares of BML.PRG to trade 1.05% lower — all else being equal — when BML.PRG shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 4.23%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, BML.PRG was trading at a 28.96% 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 BML.PRG shares, versus BAC: Below is a dividend history chart for BML.PRG, showing historical dividends prior to the most recent $0.1875 on Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 : According to the ETF Finder at ETF Channel, Bank of America Corp. ( BAC) makes up 8.99% of the KBW Bank Portfolio ETF (KBWB) which is trading relatively unchanged on the day Monday. In Monday trading, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 ( BML.PRG) is currently up about 0.9% on the day, while the common shares ( BAC) are down about 0.9%.