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OFG Bancorp's Non-cumulative Monthly Income Preferred Stock, Series A Goes Ex-Dividend Soon

On 10/11/19, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) will trade ex-dividend, for its monthly dividend of $0.1484, payable on 10/31/19. As a percentage of OFG.PRA's recent share price of $26.55, this dividend works out to approximately 0.56%, so look for shares of OFG.PRA to trade 0.56% lower — all else being equal — when OFG.PRA shares open for trading on 10/11/19. On an annualized basis, the current yield is approximately 6.71%, which compares to an average yield of 5.34% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of OFG.PRA shares, versus OFG:

Performance Comparison Chart

Below is a dividend history chart for OFG.PRA, showing historical dividends prior to the most recent $0.1484 on OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A:

OFG.PRA+Dividend+History+Chart

In Wednesday trading, OFG Bancorp's 7.125% Non-cumulative Monthly Income Preferred Stock, Series A (Symbol: OFG.PRA) is currently trading flat on the day, while the common shares (Symbol: OFG) are trading flat.

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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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