On 8/13/14, Bank of America Corp.'s 6.375% Non-Cumulative Preferred Stock, Series 3 (Symbol: BML.PRI) will trade ex-dividend, for its quarterly dividend of $0.3984, payable on 8/28/14. As a percentage of BML.PRI's recent share price of $25.26, this dividend works out to approximately 1.58%, so look for shares of BML.PRI to trade 1.58% lower - all else being equal - when BML.PRI shares open for trading on 8/13/14. On an annualized basis, the current yield is approximately 6.32%, which compares to an average yield of 5.71% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of BML.PRI shares, versus BAC:
Below is a dividend history chart for BML.PRI, showing historical dividends prior to the most recent $0.3984 on Bank of America Corp.'s 6.375% Non-Cumulative Preferred Stock, Series 3 :
According to the ETF Finder at ETF Channel, Bank of America Corp. (Symbol: BAC) makes up 7.87% 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 6.375% Non-Cumulative Preferred Stock, Series 3 (Symbol: BML.PRI) is currently up about 0.1% on the day, while the common shares (Symbol: BAC) are trading flat.
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