On 12/29/14, U.S. Bancorp's Series G Non-Cumulative Perpetual Preferred Stock ( USB.PRN) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 1/15/15. As a percentage of USB.PRN's recent share price of $27.27, this dividend works out to approximately 1.38%, so look for shares of USB.PRN to trade 1.38% lower — all else being equal — when USB.PRN shares open for trading on 12/29/14. On an annualized basis, the current yield is approximately 5.52%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, USB.PRN was trading at a 8.88% premium to its liquidation preference amount, versus the average premium of 0.11% in the "Financial" category. 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 USB.PRN shares, versus USB: Below is a dividend history chart for USB.PRN, showing historical dividends prior to the most recent $0.375 on U.S. Bancorp's Series G Non-Cumulative Perpetual Preferred Stock: According to the ETF Finder at ETF Channel, U.S. Bancorp ( USB) makes up 20.03% of the iShares U.S. Regional Banks ETF (IAT) which is trading relatively unchanged on the day Friday. In Friday trading, U.S. Bancorp's Series G Non-Cumulative Perpetual Preferred Stock ( USB.PRN) is currently up about 0.2% on the day, while the common shares ( USB) are trading flat.