Bank of America Corp.'s 6% Capital Securities Goes Ex-Dividend Soon

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On 2/20/14, Bank of America Corp.'s 6% Capital Securities (Symbol: BAC.PRZ) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 2/25/14. As a percentage of BAC.PRZ's recent share price of $25.25, this dividend works out to approximately 1.49%, so look for shares of BAC.PRZ to trade 1.49% lower - all else being equal - when BAC.PRZ shares open for trading on 2/20/14. On an annualized basis, the current yield is approximately 5.96%, which compares to an average yield of 5.75% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of BAC.PRZ shares, versus BAC:

Performance Comparison Chart


Below is a dividend history chart for BAC.PRZ, showing historical dividends prior to the most recent $0.375 on Bank of America Corp.'s 6% Capital Securities :

BAC.PRZ+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Bank of America Corp. (Symbol: BAC) makes up 8.88% of the KBW Bank Portfolio ETF ( KBWB ) which is trading higher by about 0.1% on the day Tuesday.

In Tuesday trading, Bank of America Corp.'s 6% Capital Securities (Symbol: BAC.PRZ) is currently up about 0.2% on the day, while the common shares (Symbol: BAC) are down about 0.8%.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Investing Ideas

Referenced Stocks: KBWB , BAC.PRZ , BAC

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