On 9/25/14, Royal Bank of Scotland Group plc's 6.25% Non-cumulative Guaranteed Trust Preferred Securities ( RBS.PRI) will trade ex-dividend, for its quarterly dividend of $0.3906, payable on 9/30/14. As a percentage of RBS.PRI's recent share price of $24.14, this dividend works out to approximately 1.62%, so look for shares of RBS.PRI to trade 1.62% lower — all else being equal — when RBS.PRI shares open for trading on 9/25/14. On an annualized basis, the current yield is approximately 6.47%, which compares to an average yield of 5.93% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel.As of last close, RBS.PRI was trading at a 3.44% 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.PRI shares, versus RBS: Below is a dividend history chart for RBS.PRI, showing historical dividends prior to the most recent $0.3906 on Royal Bank of Scotland Group plc's 6.25% Non-cumulative Guaranteed Trust Preferred Securities: In Tuesday trading, Royal Bank of Scotland Group plc's 6.25% Non-cumulative Guaranteed Trust Preferred Securities ( RBS.PRI) is currently trading flat on the day, while the common shares ( RBS) are trading flat.