Ex-Div Reminder for Capital One Financial Corp's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F

On 11/14/16, Capital One Financial Corp's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F ( COF.PRF) will trade ex-dividend, for its quarterly dividend of $0.3875, payable on 12/1/16. As a percentage of COF.PRF's recent share price of $25.42, this dividend works out to approximately 1.52%, so look for shares of COF.PRF to trade 1.52% lower — all else being equal — when COF.PRF shares open for trading on 11/14/16. On an annualized basis, the current yield is approximately 5.96%, which compares to an average yield of 5.54% in the "Financial" preferred stock category, according to Preferred Stock Channel.

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As of last close, COF.PRF was trading at a 4.16% premium to its liquidation preference amount, versus the average premium of 4.32% 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 COF.PRF shares, versus COF:

Performance Comparison Chart

Below is a dividend history chart for COF.PRF, showing historical dividends prior to the most recent $0.3875 on Capital One Financial Corp's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F:

COF.PRF+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Capital One Financial Corp ( COF) makes up 1.83% of the iShares U.S. Preferred Stock ETF (PFF) which is trading lower by about 1% on the day Thursday.

In Thursday trading, Capital One Financial Corp's Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series F ( COF.PRF) is currently off about 2.4% on the day, while the common shares ( COF) are up about 3%.

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