On 6/13/17, Valley National Bancorp's 7 3/4% Trust Originated Preferred Securities (Symbol: VLY.PRA) will trade ex-dividend, for its quarterly dividend of $0.3906, payable on 6/30/17. As a percentage of VLY.PRA's recent share price of $29.55, this dividend works out to approximately 1.32%, so look for shares of VLY.PRA to trade 1.32% lower - all else being equal - when VLY.PRA shares open for trading on 6/13/17. On an annualized basis, the current yield is approximately 5.28%, which compares to an average yield of 5.64% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of VLY.PRA shares, versus VLY:
Below is a dividend history chart for VLY.PRA, showing historical dividends prior to the most recent $0.3906 on Valley National Bancorp's 7 3/4% Trust Originated Preferred Securities:
According to the ETF Finder at ETF Channel, Valley National Bancorp (Symbol: VLY) makes up 2.21% of the First Trust RBA Quality Income ETF ( QINC ) which is trading higher by about 0.9% on the day Friday.
In Friday trading, Valley National Bancorp's 7 3/4% Trust Originated Preferred Securities (Symbol: VLY.PRA) is currently off about 0.2% on the day, while the common shares (Symbol: VLY) are up about 3.7%.