Cash Dividend On The Way From OFG Bancorp's 7% Noncumulative Monthly Income Preferred Stock, Series B

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On 2/12/14, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B (Symbol: OFG.PRB) will trade ex-dividend, for its monthly dividend of $0.1458, payable on 2/28/14. As a percentage of OFG.PRB's recent share price of $19.86, this dividend works out to approximately 0.73%, so look for shares of OFG.PRB to trade 0.73% lower - all else being equal - when OFG.PRB shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 8.75%, which compares to an average yield of 5.78% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of OFG.PRB shares, versus OFG:

Performance Comparison Chart

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 :

OFG.PRB+Dividend+History+Chart

According to the ETF Finder at ETF Channel, OFG Bancorp (Symbol: OFG) makes up 1.08% of the SPDR S&P Regional Banking ETF ( KRE ) which is trading relatively unchanged on the day Monday.

In Monday trading, OFG Bancorp's 7.0% Noncumulative Monthly Income Preferred Stock, Series B (Symbol: OFG.PRB) is currently off about 0.7% on the day, while the common shares (Symbol: OFG) are trading flat.

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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: KRE , OFG.PRB , OFG

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