On 4/28/14, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series E ( BAC.PRE) will trade ex-dividend, for its quarterly dividend of $0.2472, payable on 5/15/14. As a percentage of BAC.PRE's recent share price of $22.15, this dividend works out to approximately 1.12%, so look for shares of BAC.PRE to trade 1.12% lower — all else being equal — when BAC.PRE shares open for trading on 4/28/14. On an annualized basis, the current yield is approximately 4.46%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, BAC.PRE was trading at a 11.40% 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 BAC.PRE shares, versus BAC: Below is a dividend history chart for BAC.PRE, showing historical dividends prior to the most recent $0.2472 on Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series E: According to the ETF Finder at ETF Channel, Bank of America Corp. ( BAC) makes up 8.42% of the iShares U.S. Financial Services ETF (IYG) which is trading up by about 0.1% on the day Thursday. In Thursday trading, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series E ( BAC.PRE) is currently trading flat on the day, while the common shares ( BAC) are up about 0.5%.