Ex-Div Reminder for OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A

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On 4/11/14, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) will trade ex-dividend, for its monthly dividend of $0.1484, payable on 4/30/14. As a percentage of OFG.PRA's recent share price of $23.58, this dividend works out to approximately 0.63%, so look for shares of OFG.PRA to trade 0.63% lower - all else being equal - when OFG.PRA shares open for trading on 4/11/14. On an annualized basis, the current yield is approximately 7.55%, which compares to an average yield of 5.73% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of OFG.PRA shares, versus OFG:

Performance Comparison Chart

Below is a dividend history chart for OFG.PRA, showing historical dividends prior to the most recent $0.1484 on OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A:

OFG.PRA+Dividend+History+Chart

According to the ETF Finder at ETF Channel, OFG Bancorp (Symbol: OFG) makes up 1.30% of the SPDR S&P Regional Banking ETF ( KRE ) which is trading lower by about 0.3% on the day Wednesday.

In Wednesday trading, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) is currently trading flat on the day, while the common shares (Symbol: OFG) are up about 0.3%.

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 Nasdaq, Inc.



This article appears in: Investing Investing Ideas
Referenced Stocks: KRE , OFG.PRA , OFG


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