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:
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 :
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.