On 4/11/14, PNC Financial Services Group's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series P ( PNC.PRP) will trade ex-dividend, for its quarterly dividend of $0.3828, payable on 5/1/14. As a percentage of PNC.PRP's recent share price of $27.03, this dividend works out to approximately 1.42%, so look for shares of PNC.PRP to trade 1.42% lower — all else being equal — when PNC.PRP shares open for trading on 4/11/14. On an annualized basis, the current yield is approximately 5.69%, which compares to an average yield of 5.73% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, PNC.PRP was trading at a 7.60% premium 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.PRP shares, versus PNC: Below is a dividend history chart for PNC.PRP, showing historical dividends prior to the most recent $0.3828 on PNC Financial Services Group's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series P : According to the ETF Finder at ETF Channel, PNC Financial Services Group ( PNC) makes up 11.53% of the iShares U.S. Regional Banks ETF (IAT) which is trading up by about 0.1% on the day Wednesday. In Wednesday trading, PNC Financial Services Group's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series P ( PNC.PRP) is currently up about 0.5% on the day, while the common shares ( PNC) are trading flat.