On 6/11/15, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B (OFG.PRB) will trade ex-dividend, for its monthly dividend of $0.1458, payable on 6/30/15. As a percentage of OFG.PRB's recent share price of $21.75, this dividend works out to approximately 0.67%, so look for shares of OFG.PRB to trade 0.67% lower — all else being equal — when OFG.PRB shares open for trading on 6/11/15. On an annualized basis, the current yield is approximately 8.05%, which compares to an average yield of 5.70% in the "Financial" preferred stock category, according to Preferred Stock Channel.As of last close, OFG.PRB was trading at a 13.00% discount to its liquidation preference amount, versus the average premium of 1.63% 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 OFG.PRB shares, versus OFG: Below is a dividend history chart for OFG.PRB, showing historical dividends prior to the most recent $0.1458 on OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B : In Tuesday trading, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B ( OFG.PRB) is currently trading flat on the day, while the common shares ( OFG) are up about 1.6%.