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Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 Goes Ex-Dividend Soon

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Shutterstock photo

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On 2/14/18, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 (Symbol: BML.PRG) will trade ex-dividend, for its quarterly dividend of $0.1875, payable on 2/28/18. As a percentage of BML.PRG's recent share price of $20.70, this dividend works out to approximately 0.91%, so look for shares of BML.PRG to trade 0.91% lower - all else being equal - when BML.PRG shares open for trading on 2/14/18. On an annualized basis, the current yield is approximately 3.64%, which compares to an average yield of 5.74% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of BML.PRG shares, versus BAC:

Performance Comparison Chart

Below is a dividend history chart for BML.PRG, showing historical dividends prior to the most recent $0.1875 on Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 :

BML.PRG+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Bank of America Corp. (Symbol: BAC) makes up 9.79% of the iShares U.S. Financial Services ETF ( IYG ) which is trading higher by about 1.6% on the day Monday.

In Monday trading, Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 1 (Symbol: BML.PRG) is currently up about 0.5% on the day, while the common shares (Symbol: BAC) are up about 2.8%.

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 Nasdaq, Inc.


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

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BML.PRG BAC IYG

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