Ex-Div Reminder for Royal Bank of Scotland Group Non-cumulative Dollar Preference Shares, Series P

On 6/11/14, Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series P (RBS.PRP) will trade ex-dividend, for its quarterly dividend of $0.3906, payable on 6/30/14. As a percentage of RBS.PRP's recent share price of $23.51, this dividend works out to approximately 1.66%, so look for shares of RBS.PRP to trade 1.66% lower — all else being equal — when RBS.PRP shares open for trading on 6/11/14. On an annualized basis, the current yield is approximately 6.65%, which compares to an average yield of 6.24% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel.

START SLIDESHOW:
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

As of last close, RBS.PRP was trading at a 6.04% 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 RBS.PRP shares, versus RBS:

Performance Comparison Chart

Below is a dividend history chart for RBS.PRP, showing historical dividends prior to the most recent $0.3906 on Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series P:

RBS.PRP+Dividend+History+Chart

In Monday trading, Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series P ( RBS.PRP) is currently up about 0.1% on the day, while the common shares ( RBS) are trading flat.

More from Stocks

What You Need to Know About Facebook and Europe's New Privacy Rules

What You Need to Know About Facebook and Europe's New Privacy Rules

8 Bold Moves General Motors Could Make to Rev Up Its Battered Stock Price

8 Bold Moves General Motors Could Make to Rev Up Its Battered Stock Price

Is Your Investment Portfolio Prepared for Trade Wars, Inflation and More Trump?

Is Your Investment Portfolio Prepared for Trade Wars, Inflation and More Trump?

GE Is Too Opaque, Too Diversified and Too Poorly Managed: Doug Kass Insider

GE Is Too Opaque, Too Diversified and Too Poorly Managed: Doug Kass Insider

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric