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Cash Dividend On The Way From Bank of America Corp.'s 6% Capital Securities

On 9/29/15, Bank of America Corp.'s 6% Capital Securities (Symbol: BAC.PRY) will trade ex-dividend, for its quarterly dividend of $0.4062, payable on 10/27/15. As a percentage of BAC.PRY's recent share price of $26.12, this dividend works out to approximately 1.56%, so look for shares of BAC.PRY to trade 1.56% lower - all else being equal - when BAC.PRY shares open for trading on 9/29/15. On an annualized basis, the current yield is approximately 6.25%, 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 BAC.PRY shares, versus BAC:

Performance Comparison Chart

Below is a dividend history chart for BAC.PRY, showing historical dividends prior to the most recent $0.4062 on Bank of America Corp.'s 6% Capital Securities:

BAC.PRY+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Bank of America Corp. (Symbol: BAC) makes up 7.84% of the iShares U.S. Financial Services ETF ( IYG ) which is trading higher by about 1.6% on the day Friday.

In Friday trading, Bank of America Corp.'s 6% Capital Securities (Symbol: BAC.PRY) 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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