On 8/13/14, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (OFG.PRA) will trade ex-dividend, for its monthly dividend of $0.1484, payable on 9/2/14. As a percentage of OFG.PRA's recent share price of $23.93, this dividend works out to approximately 0.62%, so look for shares of OFG.PRA to trade 0.62% lower — all else being equal — when OFG.PRA shares open for trading on 8/13/14. On an annualized basis, the current yield is approximately 7.44%, which compares to an average yield of 5.71% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, OFG.PRA was trading at a 4.28% 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 OFG.PRA shares, versus OFG: Below is a dividend history chart for OFG.PRA, showing historical dividends prior to the most recent $0.1484 on OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A: According to the ETF Finder at ETF Channel, OFG Bancorp ( OFG) makes up 1.15% of the SPDR S&P Regional Banking ETF (KRE) which is trading up by about 0.7% on the day Monday. In Monday trading, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A ( OFG.PRA) is currently trading flat on the day, while the common shares ( OFG) are up about 0.2%.