On 2/12/14, PNC Financial Services Group's 5.375% Non-Cumulative Perpetual Preferred Stock, Series Q ( PNC.PRQ) will trade ex-dividend, for its quarterly dividend of $0.3359, payable on 3/1/14. As a percentage of PNC.PRQ's recent share price of $20.97, this dividend works out to approximately 1.60%, so look for shares of PNC.PRQ to trade 1.60% lower — all else being equal — when PNC.PRQ shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 6.42%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, PNC.PRQ was trading at a 16.28% 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 PNC.PRQ shares, versus PNC: Below is a dividend history chart for PNC.PRQ, showing historical dividends prior to the most recent $0.3359 on PNC Financial Services Group's 5.375% Non-Cumulative Perpetual Preferred Stock, Series Q : According to the ETF Finder at ETF Channel, PNC Financial Services Group ( PNC) makes up 11.61% of the iShares U.S. Regional Banks ETF (IAT) which is trading relatively unchanged on the day Monday. In Monday trading, PNC Financial Services Group's 5.375% Non-Cumulative Perpetual Preferred Stock, Series Q ( PNC.PRQ) is currently up about 0.2% on the day, while the common shares ( PNC) are off about 0.5%.