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Cash Dividend On The Way From Bank of America Corp.'s Trust Preferred Securities

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On 6/10/15, Bank of America Corp.'s Trust Preferred Securities (Symbol: MER.PRK) will trade ex-dividend, for its quarterly dividend of $0.4031, payable on 6/15/15. As a percentage of MER.PRK's recent share price of $25.62, this dividend works out to approximately 1.57%, so look for shares of MER.PRK to trade 1.57% lower - all else being equal - when MER.PRK shares open for trading on 6/10/15. On an annualized basis, the current yield is approximately 6.30%, which compares to an average yield of 5.69% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of MER.PRK shares, versus BAC:

Performance Comparison Chart

Below is a dividend history chart for MER.PRK, showing historical dividends prior to the most recent $0.4031 on Bank of America Corp.'s Trust Preferred Securities :

MER.PRK+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Bank of America Corp. (Symbol: BAC) makes up 7.85% of the iShares U.S. Financial Services ETF ( IYG ) which is trading relatively unchanged on the day Monday.

In Monday trading, Bank of America Corp.'s Trust Preferred Securities (Symbol: MER.PRK) is currently trading flat on the day, while the common shares (Symbol: BAC) are trading flat.

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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