On 6/11/15, Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series R (RBS.PRR) will trade ex-dividend, for its quarterly dividend of $0.3828, payable on 6/30/15. As a percentage of RBS.PRR's recent share price of $24.68, this dividend works out to approximately 1.55%, so look for shares of RBS.PRR to trade 1.55% lower — all else being equal — when RBS.PRR shares open for trading on 6/11/15. On an annualized basis, the current yield is approximately 6.17%, which compares to an average yield of 5.73% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel.As of last close, RBS.PRR was trading at a 0.72% 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.PRR shares, versus RBS: Below is a dividend history chart for RBS.PRR, showing historical dividends prior to the most recent $0.3828 on Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series R: In Tuesday trading, Royal Bank of Scotland Group plc's Non-cumulative Dollar Preference Shares, Series R ( RBS.PRR) is currently down about 0.6% on the day, while the common shares ( RBS) are trading flat.